13 Mar Bitcoin to infinity and beyond…again!
Key Points
- Bitcoin has made it to new record highs, helped recently by the advent of ETFs that invest directly into it.
- While blockchain technology has promise, the use case for Bitcoin is hard to determine making it impossible to value.
- Bitcoin could have lots more upside if it displaces gold as an independent of government “asset”, but this depends on having faith new buyers will come & pay ever higher prices.
- The key for investors is to recognise that: it’s highly volatile; very speculative; a poor diversifier; & there’s no free lunch.
