Is it too late to buy Bitcoin?
Right now, you may be wondering: is Bitcoin a speculative bubble? And, if it’s not, is it too late to buy in? Well, the answer to that is: it depends. To my mind, the price of Bitcoin is going up because people think it will keep going up. And that’s pure speculation. But not everyone agrees.
Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
Kelvin Ng
:
Hi Roger, happy new year. This is an interview with Charlie Munger late last year. From 38:35 it gets interesting – he give his view on bitcoin and also what David Ricardo missed about free trade and the consequences of free trade with China for the rest of the world:
https://www.youtube.com/watch?v=S9HgIGzOENA
Kelvin
Jason
:
I’ve been trading CME products for quarter century and the criticism that they started a BTC contract prematurely and with lack of consultation is very valid. Certainly done with precipitous haste.
Despite the propaganda and PR, BTC is good for little except HYIP (high yield investment programs), put simple Ponzi schemes.
Former comment noted Bitconnect, yes they offer “term deposits” of your BTC compounded at 1% daily rolling over every 300 days. So if you deposited $10000 worth of BTC it would be billion $$ after three years. There is no trading bot; it is illegal in most jurisdictions. Companies House the UK equivalent of ASIC served them notice (as they were registered in UK); to prove they weren’t a Ponzi or face seizure. BTC should and will sell at a discount to the gold price, as regulation catches up, at present the lag is ridiculous.
dan
:
Bit connect just went down:
https://thenextweb.com/hardfork/2018/01/16/bitconnect-shut-down-closed/
Ponzi shut down – they couldn’t/ wouldn’t provide the information on who developed their bot. I think we all know why.
Chris
:
Just change your name to include “Blockchain” as one US company has done and watch your share price go up….just like “tronic” in A Random Walk ?
Not too late for Betcoin (sic)
Richard Endersbee
:
It still find it interesting that many now commenting on bitcoin (investment experts) have missed one of, it not the greatest, investment gains (bubbles) of all time… Whether it is a bubble or not is another discussion, but bitcoin has been around for some time and crypto appears close to almost being considered a legitimate asset class, but many in the financial world have completely missed participating in the gains. The gains have been unbelievable yet participation of traditional investment professional has been scarce. Why is this so?
Roger Montgomery
:
Because it’s a bubble? Investment professionals tend not to be as willing to gamble.
dan
:
@ Darren, that is bitconnect. The jury is still out on them. From what I see it is likely a ponzi. They are in the top 20 coin market cap at the moment. I believe they have a bot that scalps bit coins volatility and pays profits back to members and affiliates. As they say if it looks to good to be true probably is.
simon
:
invest only what you are prepared to lose…. having said that ive got 1 coin and holding for the long term
darren franklin
:
Roger i have heard that holders of the bitcoin are receiving a 1%return paid to their nominated bank account on a monthly basis based on their holding and value…this sounds like a ponzi scheme as more money flows in it gets redirected.. i could be way off the mark here…can you shed any light on this?
Regards
Darren
Roger Montgomery
:
Hi Darren, That certainly is not being experienced by those I know.