Its safe to say crypto is experiencing renewed interest since the crash of 2022.
Bitcoin was at an all-time high of $69,000 and there were countless TV ads featuring celebrities hawking crypto.
There are a lot of signs crypto history is about to repeat itself.
Peter Thiel, co-founder of PayPal, Palantir Technologies, and Founders Fund, as he holds hundred dollar bills during the Bitcoin 2022 Conference in Miami.Photo: Photo by Marco Bello/Getty Images (Getty Images)
Not with any money you cant afford to lose.
Crypto is a Ponzi scheme.
But the reality is that the entire crypto enterprise is a house of cards.
Bitcoin is the digital currency of choice for the scum of the Earth.
And it simply doesnt work well as a currency because of its highly volatile nature.
But you dont need to take advice from me.
Ive been skeptical of cryptocurrency for years and still believe its way overvalued.
But I also thought it was overvalued back in 2019 when the price of bitcoinwas $5,000.
Buy low and sell high, as the age-old saying goes.
Thiel buys low and sells high.
But the public doesnt learn about the timing until well after the fact.
Thats when guys like Thiel will sell, just before the next inevitable crash.
Thiel has probably already doubled his money with the current price of Bitcoin.
And we wont know for a long while when Thiel will exit his position.
When the public does know, it will almost certainly be too late.
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