It’s been a while since any of my investments had a curve that looked like this. What is behind the current surge in Bitcoin seems a bit of a mystery. Some say the Chinese have gone mad for Bitcoins, frustrated by the low returns they are getting on cash. I could well believe it – certainly the last time I visited a casino the Chinese were heavily over-represented amongst the clientele and Bitcoin is certainly a gamble. Others say that immanent halving in the rewards for Bitcoin miners will cause supply to dry up.
Whatever the reason, a poll of my friends (none of them averse to gambling and all pretty tech savvy) revealed that I am the only Bitcoin owner amongst us. So can we really call this a bubble yet?