As today’s data is light and the markets seem quiet, I wanted to do a piece on bitcoin. The virtual currency has got a lot of attention as of late with many people touting bitcoin as the future. What a difference a view months has made as the virtual currency now approaches $100 again. I am interested by this currency as it does appear to get a lot of attention and many market participants were touting the currency reaching $10,000. For me it is backed by nothing and by no one and its true worth is closer to zero, however this doesn’t mean it doesn’t offer an opportunity to make money. As a bit of a punt if we see the currency reach $50 or lower I will buying some to see if we can get the same level of euphoria we got last time.
What does everyone else think?