January 15, 2018

One of the great things about the Christmas and new year break is being able to relax away from the market and reflect on the year gone by. Bitcoin was the hot topic for 2017, particularly in the second half.

Let me be clear. I'm bored of bitcoin already.

I'm bored with the influx of LinkedIn requests I'm getting from cryptocurrency traders I have never met and I'm bored of explaining how useless all cryptocurrencies are and how you're better to actually buy real businesses that make real profits.

But 2017 felt like the year that everyone I knew was asking me about bitcoin.

I went for a walk with a friend who had invested $20,000 six weeks ago into a basket of different currencies and that balance six weeks later was close to $60,000.

A cabbie was telling me that he was a cryptocurrency trader and that driving the cab was no longer his full-time job. My brother-in-law had told me that his builder had borrowed $400,000 against his house to buy bitcoin, an old analyst of mine owned some type...

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