OPINION: Cryptocurrency is a bit like Marmite™️ - you’re either a fan or you’re skeptical.
Some have even said to us that they think it should be banned.
As anyone who bought Bitcoin at launch or soon afterwards will tell you, it can be very lucrative.
Recent extreme events in the crypto world (especially FTX having problems, which wiped 30% off our little test portfolio in a day even though we held none) fuel the skeptic argument.
“How can you invest in something that has no intrinsic value and therefore could evaporate instantly?” they ask.
Many business relationships rely on trust in some way, but this doesn’t seem relevant in the sterilised context of a crypto app.
The machinery that makes the magic (servers, blockchain, web pages and apps) mask the people calling the shots so we don’t even realise they’re there.
Some cryptocurrencies are ISO compliant now, and it seems there’ll soon be some form of regulation in certain territories.
Our test portfolio has small amounts of twenty currencies and we keep an eye on the prices. Some pay a tiny dividend. The overall trend was a gentle slope upwards in value until the FTX issues arose. Since then, the trend is gently downwards - it looks to us as though the market was spooked.
We’ll keep the portfolio as it is and watch what happens… you never know!
#blockchain #cryptocurrency #opinion