Jim Boulden: Bitcoin over the previous decade had been the best performing asset class. But also, and I quote, almost completely uncorrelated with most other assets. Now seeing sort of the market bounce back this year, like I'm talking about the overall stock market here. And then Bitcoin bouncing back, kind of looking like it's correlated with the movements of the market. Do you think that that's a change? He says he doesn't really think there is a good reason to do it.
Bitcoin was supposed to be unrelated to the stock market, act as a hedge against inflation, and serve as a currency for private transactions. Maybe, it’s just a volatile store of value. Is that so bad? James Surowiecki is an editor at The Yale Review, a regular contributor to The Atlantic, and author of “The Wisdom of Crowds”. Motley Fool co-founder and Chief Rule Breaker David Gardner caught up with Surowiecki on his podcast, Rule Breaker Investing. This show is a cut of their conversation. They discuss: - Lessons from Bitcoin’s past boom, and its place as cryptocurrency’s “top dog” - The correlation between crypto and tech stocks - One company that’s tied its fate to the success of Bitcoin - Meme stocks from the lens of cash flow investing Tickers mentioned: BTC, ETH, MSTR, GME This episode is just part of an interview aired on the Rule Breaker Investing podcast. You can listen to the entire conversation here. Host: Mary Long Guests: David Gardner, James Surowiecki Engineer: Rick Engdahl Producer: Ricky Mulvey
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