Is Investing in Bitcoin a Safe Haven Like Gold?

“The market seems overheated but it may just be getting started – proceed with cautious optimism,” is the sort of shite you’ll often hear pundits say. These sorts of wishy-washy statements tell you absolutely nothing useful, but since the pundits need to say something, they try to avoid speaking with conviction so you can’t call them on it later.

Then there are those who are overly confident in their convictions. “I’m more bullish now than I was before,” Chamath Palihapitiya told TechCrunch in an article yesterday which announced his fourth SPAC vehicle. He believes that investors have no choice but to be in equities because the risk-free rate is nearing zero. Given he’s one of the main men behind all this SPAC nonsense, he kind of has to be bullish, but he does raise a good point.

If you’re sitting on a whole bunch of cash right now, where’s a good place to put it? The Fed just said they won’t be raising interest rates for another three years at least. Many of us don’t share Mr. Palihapitiya’s optimism because of things like an upcoming U.S. election, or the global impact of “the Rona” whi