The digital coin jumped 35% in the last five days after dropping more than 21% in the four days prior to that. Bitcoin now sits close to US$8,000, up 694.9% for the year.
At time of writing, one bitcoin is now worth more than AU$10,500, and it represents a new all-time high, following a massive 43% rally in just five days!
Amazon is set to take over the retail and logistics world in Australia. Whoever recycles and supplies cardboard boxes must be ready to mint a small fortune.
I say it’s time to move on to trust in something else. Not backwards to gold, but forwards. To a trust in indisputable maths. A trust in decentralised power structures. And a trust in technological innovation. That means bitcoin and cryptocurrencies.
If you’re so well prepared you already have Christmas covered, you’re not going to like what’s coming next. The problem with being too well prepared this year is you’ve not allowed for the Amazon effect.
Fred Wilson, early investor in Twitter, even said, ‘The lesson from the internet is that anything China bans, invest in.’
For all the bitcoin doubters it means they can finally put their money where their mouth is and short bitcoin.
I’ll admit Amazon will stir the pot a little in Australia’s retail landscape. But from an investment point of view, I think the talking heads are focusing on the wrong areas.
What is a big gain to you? Doubling your money, maybe even tripling it?
If you haven’t come across bitcoin or cryptocurrencies in the past few months, then you’ve clearly had no contact with civilisation. Everyone, and I mean everyone, has been talking about this stuff.