Money Talks News: The Podcastmagine you bought 100 shares of stock at $1 per share 10 years ago, back in 2011. And say your stock did exceedingly well, compounding at 20% per year. Result? Your $1,000 original investment would be worth $6,192; six times what you put in. Well done!
Now imagine that instead of stock, you'd put the same $1,000 into Bitcoin 10 years ago. What would that be worth today? As I write this, about $55 million.
That's right. One bitcoin went for as little as $1 back in 2011 and today (March 17, 2021) they're changing hands at more than $55,000. Bitcoin rose more than 200% per year, every year for the last 10. Ever heard of anything like that?
Me neither.
Depending on who you talk to, bitcoin is smoke and mirrors -- a complete hoax -- or it's an investment that's still in its infancy. Think today's price is insane? There are folks who think it will one day be worth more than $1 million.
So, what's an investor to do? Jump on board before the train completely leaves the station? Invest in other, less expensive crypto-currencies? Or should you simply run the other way?
That's what we're going to attempt to determine in this week's "Money!" podcast.
Want more information? Here's additional reading:
- Ask Stacy: Should I Buy Bitcoin?
- New York Times - What is a Blockchain? Is It Hype?
- Business Insider - A crypto 'fear and greed' indicator is flashing a warning signal that shows investors are being greedy as top cryptocurrencies hit record highs
- MarketWatch - Don't fall for the bitcoin bubble, even the Flintstones had a better system, warns economist Nouriel Roubini
- CNBC - Bitcoin and U.S. tech stocks are the biggest market bubbles right now, investors say
- Forbes - Bitcoin Crash 2021: What Next?
- Business Insider - An early bitcoin investor says the best time to buy is when nobody's talking about it - and warns this isn't the first crypto bubble
- University of Melbourne: Behind the Bitcoin Bubble
- US NEWS - 10 Ways to Keep Your Cryptocurrency Safe
- Consumer Reports - How Safe Is Bitcoin, Really?
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