Bitcoin’s stupefying rise in 2021 has shocked market watchers as the internet currency coded by an anonymous founder rips up rule books around conventional investments to top a $US1 trillion ($1.27 trillion) market valuation.
At a record high $US58,332 over the weekend, it’s now doubled in value over less than two months and added 50 per cent in just two weeks since Tesla revealed a $US1.5 billion investment.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
