Please, Please DON’T

I read something recently that had me shaking. Someone was suggesting that the recent run-up in the price of a Bitcoin was being driven by demand from pension plans. Please tell me that isn’t the case. The US pension system is in difficult enough straits from a funding stand-point. We don’t need to be gambling on Bitcoin’s price movement or any other cryptocurrency for that matter. Oh, and by the way, Bitcoin’s recent ascent to $42,000 per coin over the weekend was short-lived as the price this morning (10:15 am EST) is $34,557 for a quick 18% loss in just a couple of days. Please also remember that we’ve seen this roller-coaster ride before, as Bitcoin rose to >$19,000 only to fall rather quickly back to earth and settle at <$3,200 within 12-months ending December 2018.

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