China And Pool Mining Are A Threat To Bitcoin's Fundamental Premise

Commenting on current movements with regards to Bitcoin is boring and basically impossible to substantiate.People are investing in Bitcoin due to tail-risks associated with the financial system and as a mad-money asset, which are not bad reasons to hold it.But we think Bitcoin is not the right instrument to hedge these risks with, as it faces specific risks that undermine its fundamental premise of being an incorruptible currency.Not commenting on whether Bitcoin is in a speculative bubble right now, we think that long-term risks around China could decimate it, and it should be avoided at all costs.Blockchain and crypto are definitely to be followed, but we think Bitcoin is especially risky and that the diplomatic power of China in connection to its currency should be watched.