This is the latest chart story of Bitcoin. Late last year it was selling for $US20,000, and I kept getting questions from listeners and viewers about whether it was worth buying. I said I didn’t know but my best guess was no!
I was right. Because I’ve learnt from the likes of Warren Buffett, I knew I didn’t understand bitcoin and how it got to that price, so I just couldn’t jump on board. I still don’t understand it. With seemingly new rivals for bitcoin being created at a rate of knots, I remain a short-term sceptic, even though I believe cryptocurrencies will have a role in the future. That said, it will come with regulation and that’s going to take some time to happen.