Bubbles in the market are often built on some revolutionary new technology. Whether it’s railways cars or dotcom. This bubble has the potential to be bigger than all of them. Money is involved in every transaction we make. Some are all too convinced that, just as happened with music and books, with retailing and information, digital technology will revolutionise money. Banks and governments will lose their monopoly.
Whether it was gold in the ‘70s, Japan in the ‘80s or dotcom in the ‘90s, each bubble grew to a value equivalent to the entire S&P. So how big can cryptocurrencies go? The S&P is worth about $21 trillion. Cryptocurrencies are worth a total of about $11bn or $12bn – there’s a lot of upside.
But the problem cryptocurrencies must overcome is that, like the mining boom of the last decade, pump-and-dump is rife. Cryptocurrencies have become speculative assets. They’re supposed to be mediums of exchange. Despite the bubble in cars, just three major car companies remain in America. Companies like Google and Facebook came after the dotcom bust. AOL was the leader before. How influential is AOL now? Is bitcoin the next AOL? Does the Google of cryptocurrencies even exist yet? Despite keeping an eye on the future Enable’s experienced IFA’s would be happy to help you with some good old fashioned investment advice.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE
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