Buying bitcoin
It has been a busy buying day or two. Having sold EROS (NYSE:EROS) I rushed back in at $12.20. I just love it.
But I also bought Interquest (LON:ITQ) at 29p just before the suspension – in the belief that we will get the management buyout at 42p.
And I bought Tribal (LON:TRB) at 76p despite its thin balance sheet. I am assured that this stock is only going up. We’ll see.
And this morning I saw the collapse of Jersey Oil and Gas (LON:JOG) to a capitalisation of £4m at 43p. I bought 50,000 for old times’ sake at 43p.
Fortunately, I have been trading currencies under the direction of the chairman [Jim Mellon]. He deffo knows what he is doing. I certainly do not.
Save in one respect (perhaps): the Chinese government have clamped down on its citizens buying Bitcoin. This can only be because Bitcoin is going up. I paid $4,150 this morning.
Evil is down on Bitcoin but made a good profit on FOG.L. I am wondering if Bitcoin performs like gold, something people will buy in times of uncertainty? The problem with them is that the supply is finite and relatively small which points to a high level of volatility.
Awesome farsightedness with your punt @43p in JOG.
Check out the price today as at Oct 10th 2017
BXP seems to following the same path of , not in favour and yet building a major profitable company whilst no one is looking, until one fine day it explodes upwards.