For the past couple of weeks, I have debated whether or not I should talk about my personal investment decision regarding cryptocurrencies.
I am a stock guy first and foremost. I believe the stock market is the best path to building wealth, period. (I was going to say “for the average person” – but it’s the best path for everyone.)
That being said, I have been an observer and researcher of cryptocurrencies since I first learned about them in 2017.
I saw bitcoin move from $1299, to eventually $19,900, then back to $3090.
After watching bitcoin these past two years, I have come to the conclusion that it may very well be here to stay.
Think about the history of technological breakthroughs. At the end of every decade, there has been a new technology that has emerged, giving us a glimpse of the future. Those of us paying attention were able to capitalize and make a fortune:
I know that cryptocurrencies were around long before 2015, but the point in which the general public becomes aware is the point I’m most interested in.
I think bitcoin may be the very beginning of a trend that could potentially dwarf the return you get from owning stocks.
I know that may sound crazy!
But every new trend accelerates growth by creating more value than the previous trend in less time.
My personal investment approach regarding crypto is to allocate 1% of my investments to it. That way only a small percentage of my net worth is tied to bitcoin.
Cryptocurrencies are risky – but may be a glimpse into the future of money.
I am not sure how things will play out.
But the potential is enormous.
My book, The Stock Market is For Everyone, is a short guide for the beginning, inexperienced investor that is easy to understand and can be put into action immediately.
Click the image of the book at left to be taken to its Amazon page.
(Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)