Bitcoin Mania


This is a guest post, by Brian Coker, CFA. Brian has shared his investment views on Blue Harbinger in the past (see: The Joys of Crisis Investing), and his previous ideas have often been "spot on!" We highly respect Brian's opinions...

In my 30 years in the investment field, I do not recall a mania as intense as Bitcoin. It is everywhere you turn - global news networks and investment journals with 24/7 coverage. The intensity of the coverage is truly fascinating.

With a relatively small supply of actual bitcoin, the supply/demand imbalance is leading to soaring valuations. In addition, companies offering to accept it as payment are soaring in stock price. And now, trusted exchanges are offering related futures and the race is on for the first ETF. Today I read there are over 800 Bitcoin kiosks in the United States alone. I have not verified this fact - do not trust it.

Many old school investors argue the true intrinsic value is roughly zero. However given the increasing access and limited supply, it can continue to rise. It will rise until the masses look at each other and say oh no what have we done. Sell, sell!

Recently I made a small Bitcoin related investment. Of course it will skyrocket or go to zero - probably both. Honestly I just wanted to have a little skin in the game. My evil plan is to sell at an even more astronomical valuation. It will make a great story one day. Yep I was caught up in the great Bitcoin mania of 2017!

My friends know I value getting to the point of the matter. You may appreciate the brevity of this article or be inspired to research further.

Disclaimer: I do own a small Bitcoin related investment. To say it is speculative may be quite the understatement.

This is a guest post from Brian Coker, CFA. This article is also available on LinkedIn.

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