Thursday, 16th July 2020
Space to grow into – a key feature of my Bitcoin bet….
Earlier this week Tesla’s Price-to-Earnings (P/E) ratio stood at a mind-boggling 10919.85….
You didn’t read that wrong. Investors buying Tesla stock right now are paying that many dollars for a single dollar of earnings….
And plenty are buying. On Monday, US trading platform Robinhood reported that 10,000 traders per hour were piling into Tesla stock….
Tesla is already worth more than multiple mainstream and established car manufacturers – but hasn’t yet made a profit, is yet to produce 500,000 vehicles per annum and isn’t exactly tearing up the tarmac with sales growth….
Buying Tesla stock seems like madness to me. But I guess some people would say the same about Bitcoin….
- Betting on hardness….
You’ll find no shortage of people in the financial world who believe Bitcoin is headed for zero….
Investment guru Jim Rogers, for example. Only last month he was reiterating his view that Bitcoin is essentially worthless. Warren Buffett is another critic. There are many more….
But there just as many proponents of Bitcoin specifically and cryptocurrencies generally….
Over the past few years, I’ve stayed neutral – adopting a strict watching brief and waiting to see what happens.… Click here to read more