Bitcoin Is On Another Bull Run

[VelvetUnderpants]

It looks like Bitcoin is on another bull run, fuelled by rumours, Black Rock and numerous other companies are awaiting approval by the SEC for Spot ETF's and this is before the halving around April of next year. As I write Bitcoin is hovering around £35000 a substantial increase in the past year when it was £13970. I used to be a gold bug but have started to see the advantages of digital gold (Bitcoin). Michael Saylor has certainly helped changed my view on what I thought was a flash in the pan.

So what are your views on Bitcoin, is it worth a punt or best steer well clear.

Here is Michael Saylor on why he thinks Bitcoin is the hardest money ever invented.

https://x.com/saylor/status/1731088400025850201?s=20

 

[classic33]

It took one big drop last November though.

 

[Moodyman]

The technology and idea of digital currency is good and many big governments are looking at them as we speak. UK being one of them.

But, I’m not convinced Bitcoin, or any other digital currency, is the finished solution. The current investment trend is largely based on hope and Fomo.

Digital currencies, do not have an intrinsic value because they are not regulated or supported by a central govt. Their ‘price’ is driven by optimism that someone will pay more for it than me. Unlike the £ which is backed by the UK government and has a ‘promise to pay the bearer’.

Gold also falls into this camp. It has no practical use in itself, but has been around long enough to act as a store of value. Big investors often run to gold when traditional investments are in turmoil..

 

[slowmotion]

South Sea Bubble.

It's gambling on a product that has absolutely no intrinsic value.

 

[Gillstay]

You could gamble on it, but equally you could gamble on something you know something about. Such as buy more bikes.

 

[rogerzilla]

The USian style Capitalization Of The Whole Thread Title makes this sound like a pump-and-dump scam.