Bitcoin Ablaze

Warren Buffett said bitcoin as “probably rat poison squared", but today it makes TSLA stock price like it is standing still.

How can that be? Taxable Bitcoin has gone up 200% in 3 years, whereas I’ve made 400% since May this year with Tesla (tax free). Plus, you don’t own anything with Bitcoin.

Just Googled Naim archive for the thread 3 years ago about Bitcoin. My Baillie Gifford American B fund, which I was stating as better to stick to in that thread, has gone up… well have a look yourself.

What’s more interesting is @Adam.Meredith prediction that we’re all going to get a nasty strain of flu.

Posted on: 25 July 2018 by Adam Meredith

I really wouldn’t worry - if I were you.

We’ll all probably encounter an asteroid, tsunami, sinkhole or nasty case of the 'flu before the plans we’ve made for eternal life can come to fruition.

You, sur l’autre main, will likely be pummelled to death by some hapless friend or acquaintance - cracking under the barrage of your demented, changing certainty.

52 WL is 4,106.98, and today H is 33,155.12. So you would have made 800% in a year !!!
That said, statistics are deceiving. It would be interesting is where it goes 1 year from here, today.

High and low of a year? Bit ridiculous.

Anyway, Tesla’s high low of the year is 925%, so Top Trumps.

Tesla’s rise is remarkable, but I fear that it can be a bubble?

Companies to invest in like Tesla don’t come around very often and seeing it as a bubble is an emotion. I remember Qualcomm 20 years ago, people saying it couldn’t go higher. It went $3 to $90 in a short space of time. No one knows where stocks will go.

400% is a capital gain tax if over your allowance

Its a bubble, and tax payer subsidised

It’s in a stocks & shares isa. No tax. You can’t hold Bitcoin in an isa. Wake up.

It’s only a bubble the day you sell. Thanks for your tax.

Maybe you have not heard or trade GBTC? This is the NYSE Arca ETF instrument that tracks Bitcoin holdings for publicly traded investment trusts and firms.

There are several trusts/trackers that revolve around Bitcoin, but I don’t have any interest in it. That aside, you can’t hold any of these in an s&s isa and I think it’s getting harder in 2021.

A few years ago, my wife bought TSLA. I thought it was a bit speculative, but as it was only a small position, I wasn’t really bothered. I jokingly told her that when she’d made enough money on it, we’d buy an actual Tesla. Well…it’s no longer a “small position”. She also ought AAPL many (10?) years ago. She’s doing OK.

Me? Well, I went for safety and bought General Electric.

This is why your wife is rich and you are still poor.

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I’m not one for direct, individual asset purchases ordinarily and only bought Tesla and Ferrari (shortly after launch) as I’d read a BG piece on why they had them in portfolio and thought it would make an interesting experiment to own and monitor the two. And so it has proved!

I did sell my direct holding in Tesla a short while ago to help fund new kitchen and bathrooms and while the price has risen further since I have no regrets over the sale as this made an improvement to our lives, which is kind of the point behind investing. And anyway there’s still a substantial holding within various funds I own. I am very pleased with my Ferrari holding though, much smoother growth progression. And a fair amount of it!

Bitcoin. Bitcoin. Hmmm. It doesn’t do anything. Provides no income. Is difficult to hold securely. Is open to online abuse. And only exists virtually. In the long run it can go one of two ways I suppose. Personally I prefer to own more tangible stuff but while more and more people want to have a flutter (ironically because shares are viewed as expensive and most other assets have little in the way of results potential right now) and share in the boom, I guess it’s going to continue to have an interesting time. My prime concern, like other products of the digital age, is what happens when the ‘better’, more popular ‘must have’ versions come along? Because they will.

Somebody known to me genuinely made €100m on Bitcoin and two other chaps netted around €5m each, this was a few years ago. It is possible to make considerable sums but I reckon you’d really need to know what you were at and be prepared to lose a shed load.

Tesla’s market value sits at nearly $670 billion, wow! I think Tesla should do much, much more to justify its market cap, especially now the competition is heating up.



Blockchain may offer the world some useful solutions for the future but Bitcoin is still too susceptible to “whales” and it is easy to get your fingers burnt unless you are lucky, really know what you’re doing or have some insider knowledge/ or a whale yourself.