Investment briefing
Katana & Wakizashi
Once again, the price of bitcoin is on the tear, encouraged by the launch of SEC-registered exchange traded funds, led by BlackRock’s iShares Bitcoin Trust. That, a cap on interest rate rises (making risk assets more attractive versus plain old cash) , the ubiquitous ‘halving’ event (which cuts the reward for mining Bitcoin transactions in half, artificially reducing new supply at roughly four-year intervals) and rumours of potential Russian sanctions dodging, have propelled the cryptocurrency to new highs.
Investment briefing
Bear markets start for various reasons, but the root cause is constant. Too much debt, too much euphoria and always, the lure of a new paradigm.
Investment briefing
Eyes On The Prize
Just what is going on? Although equity markets scraped and banged into positive territory in the first quarter of 2023, it was a painful, gritty experience.