The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
I bought XRH0 in April when it hit a high. When Covid kicked in it temporarily crashed 60%. But in recent months it has reached new highs around 50% higher than it was in April. It is increasingly tough to mine and demand in China etc is forever increasing due to emision standards. It could well go much higher but I switched to bitcoin as bitcoin does not have a top but maybe Rhodium does as cars would cost too much. In an inflationary environment you would expect commodity prices to shoot up. In general Rhodium has been one of the best performing commodities over the last few years, it has gone up several times over. I cant think of a better performing commodity.
Rhodium has been flying the most. About 80% is from deep mines in South Africa which are for ever harder to mine. Also emissions standards in cars forever increasing and Rhodium essential to cut No2 emissions. I was invested in Rhodium ETF XHR0. It is the only pure play available to UK investors. The only negatives are that Rhodium must have a top unlike bitcoin or cars wil become unaffordable. Also the XRH0 is not guaranteed to strongly adhere to its NAV, it usually drifts at around 15% discount.
Sorry the FCA link I gave is wrong. It should have been this one: https://www.fca.org.uk/news/press-releases/fca-bans-sale-crypto-derivatives-retail-consumers
OK. There was also Coinshare's COINXBE which was an ETN based in Sweden which could have been bought with an ISA. But a few weeks ago the FCA pervesly banned it. https://www.fca.org.uk/news/news-stories/consumer-warning-next-coin-market. They are conflating scam emails with bone fide bitcoin products. I managed to buy COINXBE just before it was banned through AJBell. I can keep it but just not buy any more. I am wondering why I bought ARB.L when I have plenty of COINXBE so maybe I will sell ARB.L soon. These products do have an advantage over bitcoin: you can lose your bitcoin, forget your password (about 10% of all bitcoin is lost) or get it stolen, it is dificult to pass on to someone in a will.
A "buy" recommendation today from Yahoo Finance but it does not say anything new we didnt know already.
"Here’s why I’d buy Argo Blockchain shares right now" https://uk.finance.yahoo.com/news/why-d-buy-argo-blockchain-123010932.html