Re: Bitcoin
Posted: Sat Jul 24 2021 8:57am
Here's a couple of references to central bank views on bitcoin for a start
https://finance.yahoo.com/news/federal- ... 08680.html
https://www.bankofengland.co.uk/freedom ... nuary-2010
In a investment bubble people make money as it inflates, but if you're holding when it bursts, you lose the lot. And the nature of a bubble means that no-one can tell when it will finally burst. So investing in it is highly risky.
I do think there may be a floor under btc because of true believers who refuse to acknowledge its weaknesses. But I wouldn't like to say whether that's $10000 or $100000 or just $1000.
https://finance.yahoo.com/news/federal- ... 08680.html
https://www.bankofengland.co.uk/freedom ... nuary-2010
In a investment bubble people make money as it inflates, but if you're holding when it bursts, you lose the lot. And the nature of a bubble means that no-one can tell when it will finally burst. So investing in it is highly risky.
I do think there may be a floor under btc because of true believers who refuse to acknowledge its weaknesses. But I wouldn't like to say whether that's $10000 or $100000 or just $1000.