24 November 2017

SHARPS PIXLEY: Russia’s Plaurum sees PGMs more reliable than bitcoin

There has been almost a mania over bitcoin and its cryptocurrency copies recently as the price of the original has accelerated up to $8,000 which the writer sees as a bubble situation just waiting to burst.  It is a currency built almost entirely on sentiment and if sentiment changes we could see it return to from whence it came.  It, in the writer’s view, has no material substance behind it.  What comes from zero could just as easily return there – it is something of a legal Ponzi scheme only having value as long as investors carry on pouring money into it.

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