It’s been a good month for bitcoin, which has surged some 40 per cent to US$23,000. But is the rally built on real momentum?
, who seems to suffer from a chronic inability to stay out of trouble, having been hauled into court recently for contacting prosecution witnesses while out on bail.
On Twitter, LBRY later labelled SEC staff as “numerous liars and psychopaths.” When a former SEC official called out LBRY, its founder tweeted a SpongeBob meme involving a red nose, calling the critic a “clown.”The SEC and LBRY have reached a settlement in the case, but still, the whole affair was cringeworthy. It is not surprising that Conservative Leader Pierre Poilievre, who once wolfishly lusted after the crypto vote, now shuns it like Peter did Jesus.
And, with current prices, had you bought bitcoin any time before the end of 2020 or any time after the middle of 2022, you would have made money – probably more money than if you had bought anything else. A buck made is a buck made. Bitcoin is no worse a place to do it than marijuana or Tesla Inc. Copper, a de facto barometer for bullishness in business sentiment, has risen more than 17 per cent this year. Rising more are risk assets such as tech stocks, with which bitcoin has had a strong correlation. Even a has-been, yesterday’s pick such as Meta Platforms Inc. is up more than 50 per cent.
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