The Bitcoin Bubble

Came across an interesting story here about how the internet currency Bitcoin has exploded in value, to the point that if you had purchased $100 worth in 2010 when it was introduced, you’d be sitting on $75 million now.  Of course, this has lead to a number of people on social media making the rather obvious statement that they wish they had “invested” in Bitcoin a few years back.

One of the greatest tricks our financial overlords have ever pulled was convincing people that speculating (or, as the truly honest among us call it, “gambling”) is the same as “investing”.  This seems like a classic bubble; the only reason to purchase Bitcoin is in the hope that more people will want to purchase it in the future, not that it represents anything of actual value.   Seems like a good time to cash out if you’re one of the lucky ones who bought a few years back.

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