Friday, December 6, 2013

No idea what Bitcoin is worth

I have no idea whether a bitcoin is worth $10,000, a million dollars, or $50. Its a symptom of excess liquidity goes into bitcoins, it can go into paintings, farmland, diamonds, all at different times.

It shows that there is a lot of liquidity that just flushes into one speculative sector of the market to another one.

Farmland is up 10 times over the last 10 years. And Bitcoins are up now and who knows what next will go up.