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Is Bitcoin an Investment? Blacktower Financial Management
Investing in Bitcoin
Most people have heard of Bitcoin but do not know what Bitcoin actually is. Bitcoin is one of thousands of Crypto Currencies (Crypto’s) that are now on the market - Bitcoin was the first and has only been around since 2009, after Satoshi Nakamoto allegedly mined the first one the previous year. I say allegedly, because it is now common theory that no such person actually exists and is a persona created by a team of IT wizards, who invented Bitcoin.
Crypto is essentially electronic cash that is used as payment on a peer to peer basis and now there are many Crypto’s each trying to develop IT structures that will be able to be used as the payment system of the future.
In recent years large organisations have been looking at their own systems and looking at which Crypto can provide the better service. It is almost like the Space race of the 60’s when USA and USSR were trying to be the first to land on the moon. This is what is driving the prices up and down in the crypto market now - as each takes turns in announcing their latest development.
Many think Crypto is a bubble that will burst and others think it will be the way of the future. Esteemed
leaders of the world in business and commerce can’t even agree. On one hand, Bill Gates founder of
Microsoft, thinks it will be common place and how most transactions will occur; on the other hand Warren Buffet, the world foremost investment expert, thinks it will all come crashing down.
When you look at how some of the Crypto’s have performed over the last year, you can see why there has been such hysteria. The current 1-year return on Bitcoin is 774%. Other popular Cryptos - Etherium 6,447%, and Ripple 17,187%. Yes, if you had invested £1,000 in Ripple 12 months ago it would be now worth over £17million! Volatility has been crazy though and if you look at the same Crypto - Ripple and invested your £1,000 early January it would now be worth less than £300.
For every success story there has been a scam with regards to Crypto’s too. The biggest is Bit-Connect which was a Ponzi pyramid scheme and has resulted with thousands of people losing Millions. Every day there are teams of geeks trying to raise money through their ICO’s (Initial Coin Offerings) hoping they will strike it big.
Most of these come to nothing and people investing lose all their money.
So, the initial question was ‘Is Bitcoin an Investment’? My answer is in the long term I do not know. I would see it as a gamble and would definitely avoid investing significant amounts of a portfolio in Crypto. If you are considering I would only invest what you are prepared to lose and have a high tolerance to volatility. 2% of your overall portfolio would be reasonable if you’re a ‘Speculator’, but I would open a dummy account first and use play money to get used to the huge swings.
In today’s financial climate it is essential you do everything you can to make sure your money is safe and secure and what you want to transpire in the future has the best chance of happening.
The local Blacktower office address is: 120 Avenida Dr. Artero Guirao 2C. San Pedro Del Pinatar, 30740, Murcia, Spain. Our office suite is easy to find on the main N332 through road of San Pedro del Pinatar with easy parking.
To make an appointment call the local office on 968187331 or speak to me direct on 657684094 or email keith.littlewood@blacktowerfm.com
The above information was correct at the time of preparation and does not constitute investment advice and you should seek advice from a professional adviser before embarking on any financial planning activity.
Blacktower Financial Management (Int) Ltd is licensed in Gibraltar by the Financial Services Commission (FSC) and is registered withboth the DGS and CNMV in Spain.