Evil Knievil: “Bitcoin is a serious form of currency”

1 mins. to read
Evil Knievil: “Bitcoin is a serious form of currency”

HM Treasury has just announced that they wish to know what is going on in the world of bitcoin. This means that bitcoin is a serious form of currency and can be expected to retain its value against other currencies.

Perhaps three months ago I thought that bitcoin was a serious investment since the Chinese government had banned citizens from holding them and – this was the clincher – the boss of JP Morgan had opined that bitcoin is a scam. Both these parties have an interest in dissing bitcoin – hence the anti-bitcoin chat.

I have just checked this morning as to the tax position. UK residents are liable to CGT where the calculation as to liability is determined by the exchange rates for £/$. Losses are deductible for CGT.


It’s been a long wait but Tyratech (LON:TYR and LON:TYRU) is going to cough up 3p per share leaving the rest of the business in for free. So, given the current offer price of 2.75p, quite why the rump is valued at less than zero is not obvious.


Finally, I have no idea whether Physiomics (LON:PYC) will succeed or not. But there is something rather fishy about a rise last week from 1p to 32p.

When a stock like this emerges and shows real resistance to the pull of gravity it is a classic short. Be it noted that no placing has yet been announced. Presumably, this is yet to emerge.

It should however be remarked that IG, for one, will not allow opening positions either long or short. Perhaps others are less restrictive.

Comments (1)

  • Bill Trueman says:

    HM Treasury could just be interested: because they have no idea what is going on and want to know: or because they see the volatility and are wondering how to intervene. Accordingly, it could mean something, or nothing. Either way.

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