Bitcoin at $50,000

For having almost 40-years in financial services, it humbles me to admit I have no idea what cryptocurrencies are really about.

Bits on a blockchain?

Having a certain value because of what? I don't know.

Is it the future of money or the tulip mania all over again? There was a time long ago when a tulip bulb was worth as much as a home. For a while it was worth a home, and then it was worth planting next to a home.

In the scheme of things I guess that buying part of a Bitcoin is no different than buying a lottery ticket. Good luck!