The David McWilliams Podcast
Bitcoin is back, why?
Dec 14, 2023
Bitcoin's value has risen over 150% this year, leading to a discussion on its resurgence and the wisdom of Charlie Munger. The hosts explore the concept of hoarding in relation to Bitcoin and its impact on its status as money. They also delve into the rising demand for Bitcoin and discuss its potential as a global reserve currency. The hosts share their perspective on Bitcoin and holiday shopping, emphasizing the importance of gifting native Irish trees.
32:17
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Quick takeaways
- Bitcoin's value has risen over 150% this year despite initially being dismissed as a BS idea.
- Bitcoin's practical use as a form of currency is still limited, indicating a lack of widespread acceptance.
Deep dives
Bitcoin as a Speculative Asset
Bitcoin has been described as a speculative asset rather than money due to its lack of underlying value. It is seen as a token with no future income and relies on the next buyer to increase its value.
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