Is it Time for Bitcoin?

From MarketWatch:

Cullen Roche of Orcam Financial Group echoed much of Richter’s view.

“As a speculative instrument it’s an interesting bet on its widespread acceptance as a medium of exchange, but we should be very clear that we are speculating when we buy bitcoin,” he said. “In this sense it is more akin to something you might gamble on as opposed to something you prudently invest in. Not an inappropriate endeavor, but probably not one that should be an excessive portion of anyone’s asset allocation.”

Eddy Elfenbein of the Crossing Wall Street blog agreed on the idea of rolling the dice, and actually didn’t rule it out for himself.

“I’d buy bitcoin as a fun bet, but it still has a long way to go,” he said. “If a currency moves 15% a day, then it’s not a currency.”

Posted by on July 25th, 2017 at 12:40 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.