Ranch and Country Magazine Winter25-26

Homes and estates on acreage, ranches, land, vineyards farms, horse property for sale in California, Oregon and the West

ARE YOU READY FOR THE COUNTRY • WINTER 2025/26 • VOL. 31 #4 RANCH & COUNTRY www.RanchAndCountry.com

Homes for Sale Estates on Acreage Ranches & Vineyards Recreational Properties Farms & Land & Ag Horse Property

RANCH & COUNTRY MAGAZINE

Ranch & Country Magazine RANCH &COUNTRY Editor in Chief: Linda Boston Web Technician: Kevin Javitz R ANCH & COUNTRY MAGAZINE is committed to a lifestyle — one that lives in harmony with the land and with all forms of life that make up the natural world, one that sees the earth as a place of peace and seeks peace in all situations, one that appreciates freedom of movement in the open country, the opportunity to breathe clean air and slow down and listen to the stars, one that recognizes what is precious and beautiful in all life, and one that contributes to the greater good by valuing even the least of these — knowing full well the common chord that binds us all. R anch & C ountry M agazine Prints Quarterly • Published Since 1995 Extensive distribution throughout California, Oregon, and the Western United States Publisher: Clark Franke Graphics & Design: Kimberly Heuer

In this Issue... Ranches, Estates, Farms, Acreage, Country Homes & Horse Properties and Land for Sale 3-20 The Horse's Secret Sauce 6 Anniversary... Celebrating 30 Years 10-11 Have a Hygge Holiday 15 Ranch & Country Products & Services 16 About Video Showtime 17 Ranch & Country Blog Notes 18

ARE YOU READY FOR THE COUNTRY • WINTER 2025/26 • VOL. 31 #4 RANCH & COUNTRY www.RanchAndCountry.com

YEAR 2025 CELEBRATES 30 YEARS of publishing For a walk down memory lane, visit this page in our digital version and CLICK PLAY BUTTON

Homes for Sale Estates on Acreage Ranches & Vineyards Recreational Properties Farms & Land & Ag Horse Property

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Byron Grant Broker/Associate Century 21 Masters 805.441.2560 cell 805.481.4297 office DRE #00985985 www.byron-grant.com • byron-grant@c21home.com • 102 Bridge Street, Arroyo Grande CA 93420

$1,000,000 2845 CIENAGA, OCEANO 2.54 ACRES WELL 2 BEDROOM 1 BATH HOME

$1,950,000 424 BERMUDA, NIPOMO 12.78 ACRES HOLLOWAY’S CHRISTMAS TREE FARM INCLUDES BUSINESS

$750,000 - $1,000,000 MONTECITO RIDGE, ARROYO GRANDE 4 LOTS 10 ACRES EACH ALL OCEAN VIEW UTILITIES ON PROPERTY

$4,000,000 31 CABRILLO HIGHWAY, SANTA MARIA 145.7 ACRES AG LAND-UTILITIES DOMESTIC WELL ZONED RR-20

$1600,000 1165 & 1167 E. GRAND, ARROYO GRANDE JUST UNDER AN ACRE COMMERCIAL PROPERTY NEAR BUSY MAJOR INTERSECTION, LONG TERM TENANTS

$1,279,000 680 SPRING CANYON LANE, NIPOMO 80 ACRES WELL PRIVACY, VIEWS, SOLAR, BARNS UTILITIES NEAR SITE SEPTIC

$1,495,000 1276 POMEROY, ARROYO GRANDE NCSD NO VALUE IN STRUCTURES 19.70 ACRES ZONED RR

$300,000 0 COLSON, SANTA MARIA 41 ACRES ELECTRICAL ON PROPERTY CABIN, BUT NOT LIVEABLE

WINTER 2025/26 RANCH & COUNTRY MAGAZINE www.RanchAndCountry.com PAGE 5

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We Know Ojai. We’re Lifelong Residents.

CORRAL CANYON RANCH - 277+ ACRE RANCH IN CUYAMA VALLEY WITH FIVE RECENTLY RENOVATED HOUSES, EQUESTRIAN FACILITIES, PASTURES, HAY FIELDS, AMAZING VIEWS SET AGAINST THE STUNNING SIERRA MADRE MOUNTAINS. $4,950,000 www.29443hwy33.com

The Horse’s Secret Sauce The horse’s essential role to every day life changed into the 20th Century when the world became industrialized. And yet more than 100 years later, there are those who cannot imagine life without these large, almost always hungry, ever-amazing creatures. What is their “secret sauce?” about their environment at any given moment. They are all about BE-ING present with whatever is present. They live in the here and now. And this state of being-ness can be attractive to the human who is so wrapped up in mental processes. Many spiritual practices involve the pursuit of bringing the mind to rest, and learning how to just simply be.

RANCHO ROYALE - 21-ACRE EQUESTRIAN ESTATE W/MAIN HOUSE + 8 RENTALS, 7 HORSE BARNS, 20 COVERED CORRALS, 4 ARENAS, 2 ROUND PENS, HAY & EQUIPMENT BARNS, PANEL WALKER, ENTERTAINMENT BARN, ARCHERY RANGE, MOUNTAIN VIEWS & MORE. $6,500,000 www.RanchoRoyaleOjai.com

That the horse will even allow the human to sit on its back is phenomenal. The horse’s back is his most vulnerable area. He can kick and bite at a ground predator. But a mountain lion in the wild who wants to kill a horse will attack the horse’s back side where he has no defenses. And yet with the human, the horse is willing. But the element of choice remains. The horse could choose not to submit. He could refuse the jump. He could buck the rider off. A good rider will follow the teachings of original horse whisperer, Ray Hunt (1929-2009) and “make the wrong thing difficult and the right thing easy.” That approach puts both horse and rider on the same page so to speak. Every good rider is looking for the dance. But the freedom to choose is what creates the relationship. That is part of the secret sauce. In the 1980’s and ’90’s, stories began to circulate widely about therapeutic benefits horses could provide for children with autism and other disabilities. Children who could not speak or make eye contact did so for the first time after a series of horse interactions. “Equine Therapy” establishments blossomed to assist with various physical disabilities and emotional disturbances - PTSD, substance abuse recovery, depression, and other conditions. What is it these wonderful creatures offer that can give these benefits? As animals of prey, the horse knows, not through his mind, but through his body if a predator is around. Horses are genetically designed to get information physically

Artificial intelligence may seek to replicate and surpass human intelligence. But there are forms of intelligence that AI programs will never replicate. There is something special about a living being that transcends technology. Regarding horse training, Ray Hunt famously said, “Feel, timing, and balance. That’s about all there is to it. But there’s one other thing that makes it all work. And I don’t know what that is.” Even Ray Hunt didn’t seem to know what’s in that secret sauce. It’s been said that the horse, regardless the training, the “taming,” regardless how gentle he becomes, that he never loses touch with the wild spirit of who he really is. Perhaps the main ingredient in this secret sauce is that the horse reflects the part in us humans that doesn’t want to be told what to do, a part that wants to be free, free of restrictions and boundaries, free to express, free to soar. The human’s wild spirit lies dormant, just as horse’s wild spirit lies dormant. But perhaps the horse, by reflection, can help us humans recognize our own wild spirit. Not to let it run free, but to let it be acknowledged, to let it be taken into account as we strive to be the best we can be. If you live anywhere in the west, you’re likely driving distance from a place where you can visit, perhaps ride, or at the very least just watch some beautiful horses. But remember, that secret sauce can be addictive! Linda Boston Franke, editor

ROYAL OAKS RANCH – 5 BEDROOMS, UPSCALE FINISHES THROUGHOUT, MEDIA ROOM, WINE CELLAR, TASTING ROOM, GYM/MASSAGE ROOM, POOL & SPA, PUTTING GREEN, WELL, SIX-CAR GARAGE, BOCCE COURT, VIEWS, AND SO MUCH MORE. www.RoyalOaksRanchOjai.com

ROSE VALLEY LAND - CREATE AN OFF-GRID, COUNTRY RETREAT ON 40 ACRES WITH MOUNTAIN VIEWS, TRAILS, AND NATURAL SPRING IN ROSE VALLEY IN THE LOS PADRES NATIONAL FOREST. $1,200,000

Nora Davis (805) 207-6177 • www.ojaivalleyestates.com

License # 01046067

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VENTURA COUNTY, CALIFORNIA

VENTURA COUNTY, CALIFORNIA

1690 BUENA VISTA STREET, VENTURA

1184 COLINA VISTA, VENTURA

Build Your Dream Home w/ Panoramic Views, Ventura. Privacy at the end of a quiet cul-de-sac — behind a private gate, nes tled on approx. 1 acre of land. Once touched by the Thomas Fire, is now the last buildable lot on street. Preliminary archi tectural renderings available to help jumpstart your vision. LISTED FOR $800,000 www.FredEvans.com

1918 HILLCREST DRIVE, VENTURA

Ventura Ocean, Island views lot approx. 9044 SF. It’s a build able spectator view lot. Soils & Geological reports completed. surrounded by multimillion dollar homes. The last street up in Hobson Heights. No more developing above, the Ventura Land Conservancy has purchased all the remaining hillside, now pro tected land preserve above the city of Ventura. SUBJECT TO SHORT SALE LENDER APPROVAL Priced at $695,000 www.1918HillcrestDrive.com

KOENIGSTEIN, SANTA PAULA

20-acre private gated estate in the hills of Ventura. Panoramic views. 4 BR, 3 BAs. Built in 1998 w/ approx. 2774 sf. Pool & spa. Your own family compound, w/ your very own hill side hiking trail! Animal pen & Corrals. End less possibilities. OFFERED AT $2,500,000 www.FredEvans.com

Upper Ojai, 20 Acres Hilltop Home Site. Spectacular views of the Topa Topas and the valley below. Open spaces and peace ful surroundings. Access easement adjacent to 12096 Koenig stein Road. Temporary graded road to the top of the hill. PRICE REDUCED TO $450,000 www.FredEvans.com

FRED EVANS -- RE/MAX Gold Coast Realtors 5720 Ralston Street Suite 100, CA 93003 ( 805 ) 339-3502 Visit Fred On The Web At: www.fredevans.com • Email: fred@fredevans.com

FRED EVANS -- RE/MAX Gold Coast Realtors 5720 Ralston Street Suite 100, CA 93003 ( 805 ) 339-3502 Visit Fred On The Web At: www.fredevans.com • Email: fred@fredevans.com

DRE#00893591

DRE#00893591

WINTER 2025/26 RANCH & COUNTRY MAGAZINE www.RanchAndCountry.com PAGE 9

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Ranch & Country Magazine

Celebrating 30 Years! (see video)

SERVING THE WEST • FALL 1999 • VOL. 5 #3 RANCH & COUNTRY www..RanchAndCountry..com

AREYOUREADYFORTHECOUNTRY • WINTER 09 • VOL. 15 #6 RANCH & COUNTRY www..RanchAndCountry..com

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Country Homes Fabulous Estates Ranches, Vineyards

Farms & Land Horse Property

Ranches, Farms, Country Homes & Estates for Sale

Country Homes, Fabulous Estates, Ranches, Vineyards, Farms & Land

Country Homes, Fabulous Estates, Ranches, Vineyards, Farms & Land

Horses for Sale RANCH & COUNTRY MAGAZINE The “Gentle Shepherd” Award Spring 2002 Featured Artist: Vel Miller

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The “Heartfelt” Award Winter 1996 Featured Artist: Ezra Tucker

The “Great Outdoors” Award Fall 1999 Featured Artist: Vicki Catapano

The “Bountiful Harvest” Award Fall 2000 Featured Artist: Vel Miller

The “Cowgirl” Award Late Spring 2007 Featured Artist: Don Weller

The “Awwww” Award Winter 2009 Featured Artist: Dirk Foslien

We share a common bond with both our readers and our advertisers -- a love of the country and rural living, and appreciation and respect for rural values. Ranch & Country Magazine is a Quarterly publication. Our next issue -- Spring 2026– -- Publishes March 1st. (800) 549-8800 / Ads@RanchAndCountry.com Also see the full DIGITAL VERSION of the current issue at RanchAndCountry.com .

The first issue of Ranch & Country Magazine was published in Summer of 1995. A big thank you to our readers and for your support though the years! And of course a big big thank you to all our advertisers! Some of our regular advertisers have been with us since the beginning. We so appreciate your patronage.

ARE YOU READY FOR THE COUNTRY • FALL 2024 • VOL. 30 #3 RANCH & COUNTRY www.RanchAndCountry.com

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Country Homes Fabulous Estates Ranches, Vineyards

Homes for Sale Estates on Acreage Ranches & Vineyards Farms & Land Recreational Properties Horse Property

Homes & Estates On Acreage Ranches & Vineyards Farms & Land Recreational Properties Horse Property

ARE YOU READY FOR THE COUNTRY • SPRING 2021 • VOL. 27 #1 RANCH & COUNTRY www.RanchAndCountry.com

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www.RanchAndCountry.com ARE YOU READY FOR THE COUNTRY • FALL 2014 • VOL. 20 #3 RANCH & COUNTRY

Homes for Sale Estates on Acreage Ranches & Vineyards Farms & Land Recreational Properties Horse Property

Homes for Sale Estates on Acreage Ranches & Vineyards Farms & Land Recreational Properties Horse Property

Homes for Sale Estates on Acreage Ranches & Vineyards Farms & Land & Ag Recreational Properties Horse Property

Farms & Land Horse Property

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The “Keep on Truckin” Award Summer 2021 Featured Artist: Barbara Slater

The “Sunset” Award Summer 2018 Featured Artist: Don Weller

The “Aussie” Award Spring 2019 Featured Artist: Barbara Slater

The “Wool on Wool” Award Winter 2020 Featured Artist: Barbara Slater

The “Mare and Foal” Award Fall 2014 Featured Artist: Susan Von Borstel

The “Seasonal Themes” Award Fall 2024

Sheri Wytcherley , Principal Broker • (541)659-5574 Cell OREGON OREGON RANCH & HOME , LLC

Sheri Wytcherley , Principal Broker • (541)659-5574 Cell OREGON OREGON RANCH & HOME , LLC

at the 1925 International Exhibition of Modern Decorative and Industrial Arts in Paris — one of the earliest and rarest expressions of the Art Deco movement. Together with curated period furnishings and architectural detailing, the interior stands as a testament to timeless craftsmanship and cultural refinement. The multi-tiered amphitheater is a living sculpture of stone and water: a waterfall of green-veined rock flows from the top terrace to the base, threading through the steps and bringing motion and serenity to the landscape. A temporary stage structure can be installed for private concerts, weddings, and events beneath the stars — a hallmark feature of the property’s current use as The Bird Estate Event Center.

Multiple patios and terraces overlook the Rogue Valley and surrounding hills, offering panoramic views that stretch for miles. An Art Deco speakeasy bar with a grand picture window captures the same vista from indoors, adjoining a ten-seat private movie theater — intimate luxuries designed for both reflection and revelry. Anchoring the recreational wing, an Olympic-sized pool commands the hillside, crowned by a towering golden statue inspired by the Colossus of Rhodes. Rising thirty feet into the air, it holds a fire bowl that ignites on special evenings, its light reflected in the still water below while cypress trees frame the scene like sentinels of a vanished age. It's both sculpture and symbol — a celebration of artistry, ambition, and the human spirit.

The Bird Estate is a cinematic retreat hidden in Oregon’s Rogue Valley, where artistry, architecture, and nature converge. 200+/- acres of rolling hills, streams, and fenced pastures framed by mountain views. It's more than a home; it's a sanctuary of light, stone, and stillness, where privacy and beauty coexist in perfect harmony. The estate is a true equestrian property, featuring two barns, fenced pastures and riding grounds. The main barn includes a tack room with washroom, designed for both functionality and comfort — ideal for those who appreciate the art of horsemanship and refined country living. Five homes are situated across the property, including a beautifully preserved 1860s farmhouse — a rare surviving link to Oregon’s pioneer past. A boutique 2+/-acre vineyard graces the property, with additional acreage ideal for expansion — perfectly suited for a private label or an expanded vineyard estate.

The guest house complex includes its own tennis court, basketball court, and dog kennels, offering privacy, recreation, and comfort for guests, staff, or extended family. At its heart stands a grand Art Deco fountain, inspired by the Mulholland Fountain — a landmark of Old Hollywood that sits at the gateway of Griffith Park in Los Angeles. It serves as a luminous centerpiece, recalling the glamour and optimism of early twentieth-century California design. The same Georgia Bluestone tile that defines the courtyard continues around the pool deck and fountain, creating visual harmony and a sense of timeless refinement throughout the estate. Currently operating as The Bird Estate Event Center, the property’s scale and infrastructure make it ideal for a luxury destination resort, boutique hotel, or private family compound. Its architectural pedigree, flexible layout, and

PAGE 12 RANCH & COUNTRY MAGAZINE www.RanchAndCountry.com WINTER 2025/26 www.oregonranchandhome.com • oregonsheri@gmail.com Every architectural element reflects deliberate artistry and respect for heritage. The residence features custom, hand-honed marble composite blockwork for timeless strength and character. Accenting this, the decorative textile tiles are faithful reproductions of the original Frank Lloyd Wright Ennis House tiles, preserving the integrity and geometry of Wright’s visionary design. Inside, the main home is appointed with museum-quality antiques, including an Egyptian Revival dining set that premiered Visitors are welcomed through a formal courtyard paved in Georgia Bluestone, bordered by manicured hedges and 30-year old wisteria that drapes the colonnade in cascading color each spring. At its center, hand-carved marble statues lend the space an atmosphere of grace and permanence — a setting that feels both cinematic and timeless. A large freshwater pond anchors the landscape, providing both natural beauty and recreation. Across the estate, wildlife roams freely — here, nature is not a backdrop — it’s a companion, living in peaceful rhythm with the estate.

WINTER 2025/26 RANCH & COUNTRY MAGAZINE www.RanchAndCountry.com PAGE 13 www.oregonranchandhome.com • oregonsheri@gmail.com commanding views create limitless potential for an owner with imagination — whether for personal use, hospitality, or an international retreat. This is not a local listing — it’s an international opportunity. The Bird Estate belongs in the same conversation as Napa, Malibu, Provence, and Lake Como — for clients who value privacy, provenance, and the art of living beautifully. Offered at $30,000,000

Have A Hygge Holiday

BEND, OREGON

My name is Jacob Franke, Realtor with the Kromm Team, helping buyers and sellers through every step of homeownership in Central Oregon. I specialize in new and recently built homes, drawing on 8 years of experience working with builders. This background gives me a deep understanding of community developments, floorplans, finishes, build processes, expectation setting, and what makes each home unique. For buyers, I love helping clients upgrade to something newer or more modern. Understanding what they are coming from, the “why” behind their motivation and figuring out what solves their problems in their next home… For sellers,

I bring insight into how builders and other sellers in a busy market operate— and use that knowledge to position your home strategically. If you’re a builder looking for representation, I’d love to chat about creating a competitive edge together.

purposeful actions and practices to foster ideals for living a happy life that includes spending harmonious time, either alone or with friends, in a comfortable, safe, warm, welcoming environment where one can share conviviality and simple pleasures.

Denmark also includes the Farce Islands and even Greenland. As a developed country with a high standard of living, low poverty, and a high-income economy, Denmark is ranked No. 2 as the happiest country in the world, according to the 2025 World Happiness Report.

Christmas, a New Year, and the first glimmer of Spring -- this is the time for warm cuddly clothing, thick throw blankets, natural light, lamp light, candle light, firelight. Time to gather with friends and enjoy hot drinks and comfort food. This is “ hygge time.” Hygge is a Danish word that implies cozy, warm, congenial, the feeling of contentment, the experience of conviviality, a sense of well being. No single English word is the equivalent of hygge .

jacob@krommrealestate.com 541-280-3396 Connect with me: on LinkedIn

If a trip to Denmark is on your bucket list, how about a visit to Solvang, California. Solvang is located in the heart of the Santa Ynez Valley just a half hour or so north of Santa Barbara. The small town of Solvang of roughly 6000 residents is often called the “Danish capital of America.” Solvang was first settled by a group of Danish Americans who purchased 9000 acres from one of the large Spanish Ranchos in 1917. Solvang was initially a Danish speaking community with Danish architecture predominating, but as the town grew, services began to

“You can have everything in life you want, if you will just help enough other people get what they want.” - Zig Ziglar

Hygge is all about creating a warm atmosphere and enjoying good things and being with good people. It is also about slowing down and and enjoying the moment, without that pressing sense of having so many to-do’s. The concept of hygge may have originated in the Middle Ages, deriving from a similar old

There was once a time when every family had to have the likes of me. I was once essential to human survival. I was transportation. I was the quick get away. I carried the heavy load. I was your best friend. Maybe you think those days are over. Well, think again, partner. Your little girl won’t let you have a moment’s peace until you bring me over to that property you saw in Ranch & Country Magazine. The one with the grass pasture, with room for me to stretch my legs, and room for my sweetheart too. Yeah, I’m gonna cost you a little money. But it will be money well spent. You’ll never regret it. You’ll always remember me and our great times together. After all these years, I’m still your best friend.

Howdy Partner!

Clearly the winter season, with its holiday cheer and warm drinks by the fire, is an ideal hygge time. But in Denmark hygge is literally a practice, one that goes on all year. Denmark, the southernmost of the Scandinavian countries, has a population of nearly 6 million. Along with its mainland,

Norse word that means “protected from the outside world.” The Danes apparently embraced the concept and made it part of their national character by the end of the 18th Century. For the Danes, hygge is both a psychological state of being, and a way to live. It represents

be offered in both English and Danish. In 1947, a Saturday Evening Post article described Solvang as “Little Denmark,” and a boom in tourism followed. With charming architecture, delectable bakeries, and one-of-a-kind shops, Solvang is an easy way to touch the Danish culture. Because Solvang is so popular as a tourist destination, the hustle and bustle along its sidewalks may not exactly exude a hygge vibe. But one bite of a delectable pastry is all it takes. And in the shops one can purchase warm blankets, over-sized sweaters, ribbed beanies, candles, and comfort foods — all hygge items to take home. As the year draws to a close, it’s time to let a little hygge wash over all the rancor and strife that has characterized the socio political milieu of 2025. Remember hygge is not just a single experience; it is a lifestyle choice. And what better time to practice a hygge than in this wonderful season of winter. -- Linda Boston Franke, RC Editor

Solvang, CA

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R anc anch & C ountry C • B usiness • T rade • P roducts & S ervices

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Pools • Spas • Solar Designed with Imagination

Digital Readers: Look for play buttons like this throughout this magazine to view a property video right on the ad page. Here is a sample of an embedded video in this issue: (Print Readers: go to www.RanchAndCountry.com to our digital version to watch these videos)

LiDAR Drones Revit Models Ranch Surveys Lot Line Adjustments Boundary Surveys Lot Splits Tentative/Final Mapping ALTA/NSPS Surveys Legal Descriptions Certificates of Compliance

Enhance your advertising with a Play Button for an Embedded Video - No additional charge for this service Tell the full story about the property while readers remain on your ad page (The embedding technology is only available for YouTube videos)

Cattle Ranch Tehama County, CA 1,924.62+/- Acres

LOS OLIVOS 805-691-9112

DAVID HEUER, OWNER

1.805.886.9454 State License #840618 B / C53

WINTER 2025/26 RANCH & COUNTRY MAGAZINE www.RanchAndCountry.com PAGE 17 A VIDEO IS WORTH A 1,000 PICTURES!

visit our website to see gallery : dakaripools.com

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December 1, 2025 Bitcoin Mania - Take Two

Twelve years ago- December 1, 2013- Ranch & Country Blog Notes published the post, Bitcoin Mania . Bitcoin had reached a high of $1203 in November. It closed at the end of that year at $760. By most measures this roughly 36% drop in value from its high would seem dramatic. But the price drop was a mere blip compared to the Bitcoin price surge through the year of 2013. At the beginning of 2013, Bitcoin traded at a low of $13. The $1200 high was an increase by a multiple of 92 times the original value! This single-year price surge was a once in a lifetime event for Bitcoin. Since that remarkable year, Bitcoin has seen ups and downs. This year (2025) Bitcoin reached a high of $126,000. This increase over 12 years is roughly the same increase that Bitcoin showed in the single year of 2013. As of this writing bitcoin is trading just under $90,000. But what is the value of Bitcoin? When we say Bitcoin is $13 or $100,000, we are measuring Bitcoin’s value in dollars, that is, the number of dollars one would pay to buy a bitcoin. But what makes Bitcoin worth X number of dollars? Bitcoin enthusiasts believe the cap on supply of Bitcoins creates a significant aspect of its value. The Bitcoin system is designed so that the maximum number of Bitcoins that can be mathematically found is 21 million. At this writing roughly 95% of the maximum have been “mined.” By the year 2140 all Bitcoin will have been mined. But this finite Bitcoin system, with its built-in scarcity in economic terms, only addresses the supply side of the supply/demand economic equation. Supply is the existing amount of a product or service, whereas demand is how much consumers want that product or service- how much consumers are willing to pay for it. Demand for a product can relate to its intrinsic value, its extrinsic value, or both. Intrinsic value is connected to a product’s usability, and its future earnings and growth potential. Extrinsic value is value that is not intrinsic to the product but related to outside factors such as public narratives, political trends, theories and beliefs. Oil has intrinsic value; it is used to produce energy. Various metals have intrinsic value as they are used to produce things. Technological products have intrinsic value as they can facilitate communication and information distribution. Land has intrinsic value. You can grow things on land. You can build things on land. You can build a life, a home, a safe place, a sanctuary. Extrinsic value is simply what consumers are willing to pay for a product. The price of products that have only extrinsic value can theoretically go to zero. Some examples of products with primarily extrinsic value and little if any intrinsic value are NFT’s (Non-Fungible Tokens), some works of art, out-of-the-money stock options, collectibles, fiat money, ie, currencies decreed as legal tender by a country’s government, and… … Many financial pundits claim that Bitcoin has no intrinsic value, that these staggering price swings are based on extrinsic value alone. Even if governments support Bitcoin at a certain price, that support could be removed by a subsequent government. If Bitcoin’s value is primarily extrinsic value, then theoretically the price of Bitcoin could go to zero. But there is one sure way to recognize and “realize” the value of a Bitcoin investment - and that is to sell it. If Bitcoin is liquidated at a certain price, then that price is the value of Bitcoin for that investor. If I were a millennial who was fortunate enough to have bought a few dozen Bitcoin at $13, I would consider liquidating some part of that holding and using those dollars to buy land. That way I would realize the value of my Bitcoin investment. And I would have acquired an asset whose value can never go to zero. Plus I would have an asset that can provide the things that matter most- a potential home, a potential source for food, and at the very least, a place to play. -RC Editor

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