One thing that's important to note is people will sometimes point to you know

the volume of transactions in different cryptocurrencies Bitcoin being the

most obvious but obviously what we are interested in is if if you wanted to be

a currency we're not interested in how many trades are made in that we're

interested in how many times it is used to actually buy goods and services and

and that number has remained very low over time. I'm Mary Long and that's James

Sirwicky a regular contributor to the Atlantic fast company and author of the

book The Wisdom of Crowds. Back in July David Gardner caught up with Sirwicky

on the Rule Breaker investing podcast we're playing a piece of their

conversation on today's episode they discuss how the case for Bitcoin evolved

and where its utility has fallen short a question that investors should ask

before purchasing any asset and what drove meme stock bubbles. If you'd like to

listen to the full episode we've included a link in the show notes for you.

Jim welcome back to Rule Breaker investing. Thanks for having me on David. I'm just

delighted to have you back and as I said at the top of the intro it was two years

since you last appeared on this podcast I am to my slight credit I I said we're

we're not going to let three years pass before revisiting each other in this topic and so I'm

happy to say inside three years we're back but Jim a lot of things have happened in the world

of cryptocurrency which since it's a rather large world I would say have happened in the world

at large these days and I definitely want to touch some of those but I want to start with

where things were in February of 2021 the title of that podcast was Bitcoin 2021 my good friend Aaron

Bush joining you and me Bitcoin was sky high that week it touched over $50,000 per Bitcoin

...