The Ultimate Investor’s Guide to Bitcoin
I’ve spoken to a lot of people about investing in bitcoin over the years. And almost everyone just wants simple advice: should I invest in bitcoin?
I get it. It’s hard to get any straightforward advice these days. On the one hand, bitcoin fanatics tend to promote the cryptocurrency in a vacuum. On the other hand, traditionally old-school investors will immediately dismiss the idea. Unfortunately, there’s not much in between these two extremes.
And that leaves a lot of investors in the dark.
I’m here to change that for you. Our Ultimate Investor’s Guide to Bitcoin will provide an unbiased overview of everything you need to know about the cryptocurrency.
- What Is Bitcoin
- Why Invest in Bitcoin
- The Legalities of Bitcoin Investing
- Risks of Bitcoin Investing
- Will Bitcoin Go Up
- How to Buy Bitcoin
Likewise, InvestorPlace advisor Matt McCall, one of the first to predict bitcoin’s rise, shared top investments for a bitcoin surge. If you come away from your research more bullish on bitcoin and cryptocurrencies, then McCall’s forecasts are essential reading for investing in bitcoin.
Finally, once you start understanding what drives bitcoin price and demand, I promise you this: you’re going to quickly find out whether you should invest in bitcoin.CoinMarketCap
$25,000 in 2013 bitcoin is worth $2.2 million today
It’s easy to get lost in the technical jargon of bitcoin and other cryptocurrencies: hashing algorithms, proof-of-work, Merkle Trees. The list goes on and on. These are all essential concepts for someone looking to create a secure payments system.
But don’t miss the forest for the trees.
If you want to invest in bitcoin, there are three key factors you need to know:
1. Bitcoin Is a Cryptocurrency
Bitcoin belongs to a class of assets known as cryptocurrencies: virtual currencies that use cryptography to secure payments.
Why is cryptography so important to digital currencies? Because every currency needs some security measures. Here’s how three main security measures stack up:
Physical currency: The U.S. Bureau of Engraving uses complex security features to prevent counterfeiting. These include various watermarks, glowing threads, raised printing and color-shifting ink, among others.
Digital payment cards: Companies like Visa (NYSE:V), Mastercard (NYSE:MA) and American Express (NYSE:AXP) use security features to lower card theft. These features include EMV chips, PIN numbers, CVC codes and fraud monitoring.
Cryptocurrency: Bitcoin and other cryptocurrencies use encryption techniques to store financial data as “hashes,” a method the scientific community considers highly secure.
In the digital world, data can be stolen, duplicated, hacked, or deleted quickly. Most readers won’t be surprised to hear that in 2018, Americans lost 10.83 cents for every $100 of cardholder spending, or over 1,000% times the fraud seen in paper money. That’s where cryptocurrencies step in.
Cryptography started at least 6,000 years ago in Ancient Egypt. But it took until the age of the computer for the science to be fast enough for everyday use. These days, most cryptocurrencies, including bitcoin, use a highly secure hash function to secure wallets and payments. These are functions that convert a string of data or passwords into a complex “hash” that only someone with the decryption key can unlock.
Bitcoin uses an SHA-256 level of encryption, a highly regarded standard the U.S. National Security Agency (NSA) developed in 2001.
The encryption level is very sophisticated. Someone using all the currently available bitcoin mining power would still take 7.4 x 10^51 years (that’s 7.4 with 51 zeros after) to break a password with brute force. That’s more years than the number of atoms on earth!
Put another way: don’t lose your bitcoin wallet password. You’ll be waiting a long time to recover it.
2. Bitcoin Uses a Blockchain
While cryptocurrency is how bitcoin gets secured, “blockchain” is how the data gets recorded. Put simply, its the currency’s transaction ledger.
Satoshi Nakamoto, creator of bitcoin, illustrates the concept of blockchain
Why is the transaction ledger so critical? Because it guarantees you’re the rightful owner of a particular bitcoin.
Think of it this way. In the physical world, people can’t double-spend money. Once someone hands you a paper dollar bill, they can no longer give that same dollar to anyone else. It’s a physical impossibility.
In the digital world, however, things get trickier. How do you know if someone’s making a legitimate payment? The buyer could have made a digital copy of a token, for all the seller knows. Currently, merchants use third-party intermediaries such as Visa or PayPal (NASDAQ:PYPL) to approve or decline payments. But the system is far from perfect. According to Fundera, a small business loan company, merchants pay between 1.7% to 3.5% in credit card processing fees. As a result, that’s more than what most small businesses earn in gross profit margins.
Bitcoin, on the other hand, uses a transaction ledger to record currency movements. That means a merchant verifying a customer’s bitcoin balance can check the ledger herself rather than pay a third party.
That means transaction fees for bitcoins can be as low as 0-1%, according to researchers at the KTH Royal Institute of Technology. Small businesses have started to take note. Today, 2,300 small U.S. businesses now accept bitcoin, as well as 13 major national ones.
3. Bitcoin Is Public
There’s one final factor that makes bitcoin unusual (although many cryptocurrencies have since copied it).
Its blockchain is 100% public.
That means that anyone with a computer and internet connection can log on and read the entire blockchain. That’s right. You don’t have to be a merchant or insider to see every single transaction that has ever happened.
“Imagine all those people who have a supercomputer in their pocket, who are connected to a network but don’t have a bank account,” said Don Tapscott, Adjunct Professor at INSEAD, in an interview with McKinsey. “Imagine if they could be brought in, 2 billion people, into the global financial system. What could that do?”
Even in the U.S., 25% of households are unbanked or under-banked. These are people who either don’t have bank accounts or need non-bank services like payday lenders to make ends meet.
And as anyone will tell you, life without a bank account isn’t easy.
Here’s where bitcoin and other cryptocurrencies come in. According to Tapscott, cryptocurrencies could let people spend, borrow and save money without the high fees or account minimums that exist today. Imagine a world where you could send money securely to anyone in the world. That could fundamentally change everything from trade to insurance, from banking to charitable giving.
Upstart technologies have changed the payment industry before.
In 1973, Bank of America (NYSE:BAC) created the first electronic authorization system for its credit card business, laying the foundation for the VisaNet payments network. Today, Visa (which Bank of America spun off in 1976) and its peers oversee a $3.9 trillion cashless payments industry.
Bitcoin Gains Credibility With Investors
Can cryptocurrency bring a new wave of change? Investors seem to think so.
In 2017, the CME Group (NASDAQ:CME) created bitcoin futures after seeing widespread adoption of the currency among professional and institutional investors. The Group followed up in 2020 with the release of bitcoin options.
In April 2020, Andreessen Horowitz, a prominent venture capital group, launched a $515 million cryptocurrency fund. “Consumers, particularly digitally native users and those in places where the currency isn’t stable, want a modern store of value that is scarce, secure, durable, portable, and censorship-resistant,” the company wrote. “Bitcoin is a digital alternative that is gaining acceptance and adoption around the world.”
So Why Invest in Bitcoin?
Taken as money, bitcoin is now the sixth-largest currency in circulation. Today, the currency logs over 350,000 transactions per day and has roughly 1,000,000 active miners worldwide. It’s also over three times the size of the next-largest cryptocurrency, Ethereum. So despite some technological limitations, it’s still the most widely adopted cryptocurrency.
Bitcoin’s popularity matters for investors. While smaller cryptocurrencies may outperform thanks to a smaller starting size, none can yet compete with bitcoin for merchant acceptance, software ecosystem or trading liquidity. Furthermore, smaller altcoins also run a higher risk of a 51% attack, which happens when a single entity takes majority control of a coin’s computing power. The miner can then re-write the coin’s blockchain in their favor.
I get this question a lot. People wonder: if I invest in bitcoin, is it entirely legal?
And what’s the short answer? Yes. Bitcoin is legal in the United States. But it’s complicated.
As early as 2013, the U.S. Treasury Department established a formal regulatory framework for virtual currencies. Soon after, the IRS issued an official notice outlining the tax treatment of bitcoin and other virtual currencies.
Most developed countries have similar laws that recognize the legitimacy of cryptocurrencies and lays out specific taxation frameworks. These countries include the EU, Canada, Australia, Japan, South Korea and many others. The U.S. Congressional Library has published its international guide here.
But what about enforcement? That’s where things get complicated.
In 2017, a Californian court ordered Coinbase, a U.S.-based cryptocurrency exchange, to turn over names of 14,355 users to the IRS. Relations between the courts and cryptocurrency exchanges have been strained ever since. Foreign governments also view cryptocurrency with a mix of suspicion and indecision. China banned local cryptocurrency exchanges in 2017 while simultaneously urging technological innovation.
Where Is Bitcoin Illegal?
In developing countries, laws can get even murkier. Central banks in Pakistan, Nepal, Morocco, Algeria and several others have banned the use of cryptocurrencies. Some countries, like Egypt, claim that cryptocurrencies violate Islamic law. Others, like Iran, have instituted bans to prevent transfers of currency out of the country.
These bans echo the weakness of specific central banks. Zimbabwe’s central bank, for instance, banned the use of the U.S. Dollar in 2019. The country was attempting to defend its inflation-ridden currency from black-market speculation.
What About DarkNet Usage?
Bitcoin’s privacy standards make it a double-edged sword. On the one hand, users can have total privacy if they so desire. Anyone can create an anonymous account on the blockchain and start trading. On the other hand, bitcoin’s privacy has made it a medium of choice on online Darknet Markets (DNM).
These issues have worried investors, but hasn’t been enough for developed governments to call for a ban. That’s because governments recognize that card payments and cash have problems of their own. In 2018, consumers and companies lost $24.26 billion from payment card fraud. It’s even worse online. According to American Express, merchants estimate fraudulent transactions make up a staggering 27% of their annual online sales. Even cash isn’t immune to misuse. By tracking paper money in circulation, Ken Rogoff, a professor at Harvard University, estimates one-third of U.S. paper currency goes toward illegal activity.
Here’s where most investors worry about cryptocurrencies and bitcoin.
And I’ll tell you why they’re right to worry.
Over the years, crypto investors have experienced many high-profile losses. Remember how I earlier mentioned the $3 billion theft at Mt. Gox? Even those losses pale in comparison to the enormous market slide back in 2018.
Bitcoin: Win Some, Lose Some
Investors who bought bitcoin in December 2017 were in for a huge shock. Over the next-12 months, prices slid from $17,802 to $3,236, wiping out $242 billion of investor wealth.
Bitcoin, however, has also rewarded patient investors. As mentioned before, an investor who bought $25,000 of bitcoin in 2013 would have seen their wealth balloon to $2.8 million, even after the 2018 slide. That’s more than most people would ever need for retirement.
So should a thoughtful person invest in bitcoin? Here are the three key factors to consider.
Here’s one of the first rules of investing. I tell everyone this: know how to size your positions. Even someone who’s 100% bullish on gold probably shouldn’t usually put 100% of their wealth into the shiny yellow metal. Because if they’re wrong, they don’t want to get wiped out.
Putting in too little toward a position, on the other hand, can mean a wasted opportunity. Peter Lynch, a fund manager at Fidelity, called the process “diworsification.” That’s when fearful investors pad their portfolios with too many mediocre assets instead of investing with conviction.
Finding the Right Balance
There are several methods to good position sizing. Warren Buffett once suggested that investors make a 20-slot punch card, representing all the investments you will make in your lifetime.
More mathematically-minded people (myself included) will use what’s called the Kelly Criterion. The method, developed by J. L. Kelly, a researcher at Bell Labs, is often used by professional gamblers and traders to size their bets. Surer bets get more significant positions, and worse chances get smaller stakes.
But in the end, diversification depends on the individual.
- High-risk tolerance. If you’re in your 20’s and have a lifetime of earnings ahead of you, you can afford to take more substantial bets.
- Low-risk tolerance. If you’re in your 60’s and nearing retirement, on the other hand, you want to limit your risk to any single factor.
In other words, before you put 5% of your portfolio in bitcoin, ask yourself this: can I afford to lose 5% of my net worth if bitcoin collapses?
2. Understand the Risks
Eye-popping returns shouldn’t be enough to entice people to invest. That’s why you rarely see people putting their life savings on a single spin at a casino roulette wheel.
Don’t treat bitcoin any differently than other investments.
In particular, investors need to understand that bitcoin is a fiat currency, which by definition have no underlying backing. Like the U.S. Dollar or the Russian Ruble, bitcoins only have value because people believe they have value. And when trust disappears from currency, as it did during German hyperinflation in the 1920s, you’ll find people using banknotes as no more than wallpaper.
Digital currencies have also disappeared before. Flooz, Digicash, Beenz and many other internet currencies flopped in the late-90’s after fraud and cash shortages wiped out trust.
Even bitcoin has seen several high-profile fraud cases. Between 2011 and 2014, hackers broke into cryptocurrency exchange Mt. Gox and stole $3 billion worth of securities. (A 2014 investigation found that the exchange had stored its passwords on non-encrypted servers).
3. Invest in Bitcoin With Conviction
Every investment you make must pass one final question: do you believe in this investment?
That’s what I call investing with conviction. In other words, don’t invest in bitcoin because your neighbors tell you to. And don’t buy just because you *hope* bitcoin will go up.
Instead, invest in bitcoin because you believe it will go up.
So will bitcoin go up? That’s the real million-dollar question that my colleagues at InvestorPlace have been debating for some time. We’ll cover that question in the next section.
People can spend hours arguing about bitcoin price predictions. And all you’ll get is an angry or frustrated friend. So instead of doing that, I encourage people to approach bitcoin with a clear framework in mind.
Invest in Bitcoin for the Short-Term: In the short-term (i.e., minutes to days), buyer and seller demand determine prices. Technical analysis often works well in these cases, as shown by academic studies of currency markets. That’s because if everyone expects prices to fall, expectations become a self-fulfilling prophecy as buyers ratchet down their bids.
Invest in Bitcoin for the Medium-Term: In the medium-term (i.e., days to months), prices tend to follow the “store of value” model, much like gold. Panicking investors seeking safe havens often quickly rush in and out of asset classes, creating wild swings not seen in other asset classes.
Invest in Bitcoin for the Long-Term: In the long-term (years to decades), prices will eventually follow valuation as a currency. “The valuation of such general payment tokens [i.e., bitcoin] would be similar to how we value currencies,” explains Will Cong, Associate Professor of Finance, Cornell University. “For example, money supply and velocity would be important determinants. Political considerations would also matter.”
Will Investors Profit From Bitcoin?
In the early days of bitcoin, I saw day traders make money by studying charts. As players have become more sophisticated, today’s market makers tend to need complex computer trading algorithms. So If you’re lucky enough to have a system that consistently beats markets AND you understand why it works, then I’d encourage you to keep at it.
But if you don’t have that, there’s also another proven strategy: buy and hold. If you have a stock that goes up 1,000%, why jump in and out when you can just profit the entire way up?
That brings me to the all important question for those who want to invest in bitcoin: will buy-and-hold investors make another 10,000%? Or will they instead lose 100% of what they put in?
Here are the three key factors that will determine bitcoin’s future.
1. Widespread Adoption by Users
The value of bitcoin ultimately depends on whether people buy in. That’s because all currencies rely on a concept called “fungibility,” the ability to exchange it for other goods and services.
To illustrate the concept: many first-time international travelers are often surprised that their home currency doesn’t work everywhere. Give an American cashier a $5 bill, and nothing will seem out of place. Give the same cashier a 200-Rupee note, however, and watch the confusion unfold.
Bitcoin works the same way. If you start seeing more local businesses accept bitcoin, there’s a better chance you’ll open a bitcoin wallet. And the more people who use the currency, the more places will start accepting payments. It’s a virtuous cycle that will help the widespread adoption of cryptocurrencies.
That’s why I pay so much attention to the number of wallets in use. It’s a leading indicator of the popularity of bitcoin at any given moment.
2. Trust in the System
“The spread of bitcoin infrastructure is associated with low trust in banks and the financial system among inhabitants of a region,” writes Ed Saiedi et al. in Small Business Economics, “and with the occurrence of country-level inflation crises.”
In other words, people adopt bitcoin faster in countries where trust and inflation issues are concerns.
Bitcoin still also needs to work out its own trust issues. For instance, many businesses remain hesitant about holding cryptocurrencies . Prices can change rapidly; a company that accepts online currency from a customer on a Wednesday might find they’re in the hole by the time they need to pay suppliers that Friday. As bitcoin overcome these trust issues, investors should take note.
3. Relevant Software Ecosystem
Every new technology needs an ecosystem to thrive. Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT) wouldn’t have been possible without widespread mobile internet access. (Imagine trying to use Uber on dial-up internet). Amazon owes much of its success to the development of secure web payment systems. Even Tesla (NASDAQ:TSLA), which built its own charging network, wouldn’t have been possible without inventions like higher-capacity lithium-ion batteries.
Bitcoin will also need a host of systems to keep moving forward.
For instance, technological limitations cap transaction speeds at around seven per second (compared to Visa’s capacity of 65,000 per second). So if people start using bitcoin for everyday transactions, verification times could get so slow that the currency becomes unusable. To overcome these limitations, companies would have to create “off-chain” transactions that gather up lots of small payments and batch them into a single blockchain request.
What Experts Get Wrong About Bitcoin
Traditional analysts at JPMorgan and other firms have often tried to compare bitcoin to traditional investments like gold or stocks. They assign terms like “intrinsic value” as if mining costs dictate bitcoin. (They don’t, thanks to an automatically-adjusting function)
Instead, bitcoin pricing has more in common with Picasso’s, Fabergé eggs and collectible coins. In other words, they fall into a class of assets the CFP Board labels as “collectibles.”
What makes that distinction? There are three key factors:
- Few or no more get produced. Bitcoin’s code caps the maximum number at 21 million.
- Doesn’t generate economic returns. Currencies don’t generate “rents” (i.e., profits) like stocks or real estate.
- Can’t be used to produce other things. Smart contracts aside, bitcoin doesn’t have an industrial or medical use like oil or gold.
That means bitcoin prices depend 100% on public demand for its use as 1) a store of value or 2) a medium of exchange. It’s neither good nor bad – someone who bought a genuine Picasso in 1915 would be a multi-millionaire today. But it’s the truth.
Is Bitcoin a Good Investment?
To use an analogy from sports: when professional baseball players take a swing, they’re not only looking at the incoming baseball. They’re also paying attention to the pitcher: how the pitcher stands, winds up, and throws the ball. All these actions give clues to where the baseball ends up.
Bitcoin (and many other investments) follow this principle. If you want to know where bitcoin prices will go, don’t just look at prices. Instead, make sure you’re paying attention to the world around it as well.
Now that you’re ready to invest in bitcoin, it’s time to take the next steps. But before you do, hear me say this:
Make sure you know the risks.
That’s because bitcoin platforms doesn’t offer the same protections investors have grown used to.
Traditional asset classes protect investors with layers of security. For stocks and bonds, federal SIPC insurance protects investors from theft and brokerage bankruptcies. Real estate investors have established property rights; the court system prevents people from stealing the deed to your house. Even art collectors are protected; many register their pieces to discourage theft and take out artwork insurance.
But what happens if your bitcoin password gets stolen? There’s no central authority that can step in. No one to reset a lost password. That’s the whole point of cryptocurrencies!
So how do you go about investing safely? Here are five ways:
1. Bitcoin Exchange
Investors looking to invest in bitcoin can sign up with a dedicated cryptocurrency exchange. These exchanges connect individual investors, which can provide substantial savings in commissions.
On the downside, you often won’t get a private wallet address from an exchange (or the exchange will hold your private wallet on your behalf). That makes user data and account passwords vulnerable to hackers. Even large platforms are vulnerable; Mt. Gox was the largest exchange in the world when hackers stole $3 billion.
How do you counter these risks? Firstly, make sure you choose a reputable exchange with adequate insurance.
And secondly, don’t put all your eggs in one basket. Open accounts at multiple exchanges. Not only will this protect you if one platform fails. Having multiple accounts will also let you choose the best price at any moment.
The top six exchanges, according to CoinMarketCap:
- Binance – Founded in China, moved to Malta in 2018. Subject of a 2019 hack
- Huobi Global – Founded in China, moved to Singapore in 2017. Publicly traded as Huobi Technology Holdings (HKG:1611)
- Coinbase Pro – Largest US-based exchange
- Kraken – Founded as a replacement for Mt. Gox
- Bithumb – South Korean-based exchange
- Bitfinex – Based in Hong Kong, subject to concerns over relationship with Tether
Advantages: low-cost, direct investment
Disadvantages: higher risk of theft
2. Brokerage Firms
Some traditional brokers already offer bitcoin, while others are rushing to catch up.
Brokerage firms tend to have well-established security policies that protect investors from theft. You also may have to open a new account, but you won’t have to create an entirely new relationship to start trading. However, each brokerage firm has its nuances. Robinhood, for instance, offers insurance on client cryptocurrency accounts while TradeStation makes no mention of it in its disclosures booklet.
You also won’t own cryptocurrencies directly. Brokerages will transact bitcoin on your behalf through exchanges or other users.
- Robinhood – One of the first major stock platforms to offer cryptocurrency trading
- TradeStation – Available since 2019
- E*Trade – Currently testing paper trading. Full trading available in 2020
- TD Ameritrade – Spot trading available through subsidiary ErisX.
Advantages: existing relationship, ease of use
Disadvantages: varying insurance policies, no direct bitcoin ownership, layered fees
3. Direct Wallet
Investors seeking maximum security and privacy can open an anonymous wallet directly on the blockchain. It’s not for everyone – creating a wallet involves some programming knowledge – but it’s efficient and low-cost.
Many free and paid services can help you open a wallet. Whichever service you choose, be sure they don’t store your wallet password on your behalf. Also, if you open a private wallet, you will need a bitcoin exchange account to fund your wallet.
Advantages: invest in bitcoin directly, secure private wallet
Disadvantages: still requires opening an exchange account, technical know-how
4. Futures and Options
The CME Group began offering bitcoin futures on its exchange in 2017 and followed up with bitcoin options trading in 2020.
It’s proven to be a surprisingly popular way to invest in bitcoin. Thanks to the CME’s established track record and regulatory oversight, institutional investors have flocked to the platform in droves.
How do CME contracts work?
With futures and options, investors create side-bets to guess where prices will go. They never actually own the underlying cryptocurrency. On the upside, you never have to worry about bitcoins getting stolen – investors never hold the underlying asset. On the downside, returns from options and futures can diverge from spot prices.
Here are some selected companies that offer cryptocurrency futures trading.
- Charles Schwab – The largest brokerage to offer bitcoin futures
- Fidelity – Options trading available. Fidelity has also provided bitcoin custodial services to funds
- TD Ameritrade – One of the early movers in bitcoin futures trading. Has a $25,000 minimum
- E*Trade – Another early mover in bitcoin futures trading.
Advantages: Easy to transact (only need a margin account), reduced risk of default
Disadvantages: no direct exposure to bitcoin
5. Mining Investment (least recommended)
Investors can also buy stocks of companies that deal with cryptocurrencies.
I personally don’t recommend this route if you want direct exposure to bitcoin. Bitcoin-related companies can still fail even if the cryptocurrency succeeds. It’s also slim pickings: these companies are smaller and less established, raising the risks of fraud, misreporting and cash shortages. Make sure you investigate any company before investing.
- Riot Blockchain (NASDAQ:RIOT) – A veterinary group turned cryptocurrency miner accused of running a pump-and-dump scheme
- Marathon Patent Group (NASDAQ:MARA) – A former patent troll turned cryptocurrency mining company
- HIVE Blockchain (OTCMKTS:HVBTF) – OTC crypto mining company founded by a 31-year old entrepreneur
- Hut 8 Mining (OTCMKTS:HUTMF) – OTC company flagged by auditors for risk as a going concern
- Grayscale Bitcoin Trust (OTCMKTS:GBTC) – OTC bitcoin trust that charges 4.1% of assets under management
Advantages: Buy bitcoin mining stocks from your brokerage.
Disadvantages: No direct exposure to bitcoin, companies may go bankrupt.
If this seems like a lot of information, don’t worry. We’re here to help.
That’s because here at InvestorPlace, we’re one of America’s largest, longest-standing independent financial research firms. Since the 1970s, we’ve published independent research that’s not only insightful but also ACTIONABLE. And we’re paid by our subscribers, not by the companies we cover.
In other words, we work for YOU.
It’s a model that’s worked for decades: identifying technological game-changers and highlighting investment opportunities. Think opportunities such as the PC, internet, e-commerce and the biotech revolution. Early investors in Amazon would have seen $1,000 turn into $1,815,000, and we’re always on the hunt for the next big one.
Bitcoin, specifically, recently had a watershed moment. I’m talking about a rare event that happened just this year on May 11 … it’s called the “Halvening.”
The first Halvening took place in November 2012, sending the price of bitcoin higher by 2,135%. The second Halvening in June 2016 prompted bitcoin to shoot up 3,122% in 18 months. And this time? Well, let’s just say that one of our savviest analysts believes the Halvening will send bitcoin to $40,000.
So will bitcoin and cryptocurrencies mark yet another a watershed moment in history? That’s a question a lot of investors ask themselves. And if you want to find out for yourself, you can. Check out Matt McCall and Louis Navellier’s Race to 40K to learn more.
On the date of publication, Thomas Yeung did not hold a position (either directly or indirectly) in any of the securities or cryptocurrencies mentioned in this article.
Tom Yeung, CFA, is a registered investment advisor on a mission to bring simplicity to the world of investing.
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