“These warnings are largely falling on deaf ears for now, with major Bitcoin trading exchanges like Coinbase seeing record levels of account opening and trading, in some cases more than 100,000 accounts a day,” said Mr Eliseo.

Mr Eliseo said there are still significant governance and regulatory issues with bitcoin and investors should be limiting any investment to small amounts that won’t impact their lifestyle.

However some of the people from the mainstream finance community that are ringing the alarm bell on bitcoin, he said, “conveniently ignore the almost certain bubbles that exist in more traditional financial markets".

For example, advisers and their clients, he said, many want to consider that at the end of 2017 US equities were sitting at close to 32 times cyclically adjusted earnings, their second most expensive in history, he said. 

Over $11 trillion in sovereign debt trades at negative yields also, he added. 

"Argentina, the home of six series sovereign defaults in the past century alone, just raised $2.75 billion through a 100-year bond that was three times oversubscribed," he said. 

 Veolia, a French BBB rated corporate, he said, issued a 500 million Euro 3-year bond last year at a negative yield. It was four times oversubscribed.

"The point I’m making of course is that if Bitcoin is indeed a bubble, then it’s likely in very good company. More importantly, bubble or not, Bitcoin is not the most important risk SMSF trustees and their advisers will need to monitor as 2018 unfolds," he said.