Kool-Aid Free Zone

Quoted in tomorrow’s Daily Telegraph, being decidedly bearish on the long-term prospects of BItcoin:

“Preston Byrne, a fellow of the Adam Smith Institute and a commercial lawyer specialising in securitisation and cryptocurrency in the City of London, says that speculative investment in the currency has pushed up its price…

“Mr Byrne suggests that while lower than late last year, historically elevated prices and equivalently high fees have been enough to put off many new buyers. As such, daily transaction volumes have slumped, falling to levels typical for 2012 – when Bitcoin was relatively unknown.”