What’s Going On With Crypto?

As I watch the surreal rise of people who want bitcoins – most of my friends who have no idea what it is or why they want it – I see a world that is delusional, mad and strange. Sure. I’m commentating as someone who hasn’t left home for a year, near enough – so maybe it’s me who is delusional, mad and strange – but it is interesting to watch the madness of crowds as they rush towards crypto with no idea of why.

And get this guys: it is the madness of crowds.

When a currency gains ten times more value in less than a year, it’s madness. But it reflects the views of the crowds during lockdown. During lockdown, we don’t trust our governments anymore and, as a follow-on from that, we don’t trust our government’s currencies. We don’t trust our government’s money. We don’t trust our government.

The combination of bankers starting to endorse cryptocurrencies as respectable and governments losing citizens support creates a perfect storm for bitcoin and its brethren to yes, probably gain value over the next year of a major multiple.

My view?

Put your money into crypto via companies like Mode (trades on the London stock exchange - MODE), keep it there for as long as you can or, if you have time on your hands, buy low and sell high. Either way, you’re going to have a good time making money whilst this rollercoaster ride continues. Just make sure you’re not still sitting in the chair when it all stops or crashes.

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