Unfiltered Finance - Bitcoin: New Asset Class or Digital Tulip Bulb Mania

In late 2008 (perhaps in response to the financial crisis), someone using the alias, Satoshi Nakamoto, published a white paper about a peer-to-peer electronic cash system that they dubbed – Bitcoin.

 

In July of 2010, Bitcoin began trading at a value of 8/100 of a penny. It has since grown to a recent valuation of over $55,000 dollars. More energy is consumed mining Bitcoin than is used by Argentina every year. At the peak of Bitcoin’s recent rise, it was worth more than the combined market cap of the world’s largest banks.

 

In the time since it first began trading in 2010, Bitcoin has been grabbing headlines, and exciting imaginations. Some say it is the future of money and transactions. Other are more skeptical. Charlie Munger, Warren Buffet’s business partner, has likened Bitcoin trading to “Trading turds.”

 

In this episode of the podcast, we are joined by Dr. John McDermott, Symmetry’s Chief Investment Strategist, to explore the role of Bitcoin as a potential long-term investment.

 

Download Unfiltered Finance Episode 8 – Bitcoin: New Asset Class or Digital Tulip Bulb Mania

Unfiltered Finance is available on Spotify, iTunes, YouTube, Google Podcasts, and Stitcher.

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As always, we remain invested in your goals.

 

Symmetry Partners, LLC, provides this communication on this site as a matter of general information. Information contained herein, including data or statistics quoted, are from sources believed to be reliable but cannot be guaranteed or warranted. Nothing on this site represents a recommendation of any particular security, strategy, or investment product. The opinions of the author are subject to change without notice. Due to various factors, including changing market conditions and/or applicable laws, the content may not be reflective of current opinions or positions. All content on this site is for educational purposes and should not be considered investment advice or an offer of any security for sale. Please be advised that Symmetry Partners does not provide tax or legal advice and nothing either stated or implied here on this site should be inferred as providing such advice. Symmetry Partners does not approve or endorse any third party communications on this site and will not be liable for any such posts.

Diversification seeks to reduce volatility by spreading your investment dollars into various asset classes to add balance to your portfolio. Using this methodology, however, does not guarantee a profit or protection from loss in a declining market.

 

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