Two years ago, bitcoin/crypto investing seemed to be the best investment as many became instant millionaires, and a few billionaires.
Some people I know jumped into the bandwagon. Me & my wife almost joined in the fray (who wouldn’t be attracted to this “investment craze” but the prudent side of me managed to hold back.)
While crypto/bitcoin is slowly becoming part of the local market, I am still not into it.
These days, I’ve been seeing investments into bitcoin/crypto crashing, in short, expect the worst – some investments disappeared without a trace. I even watched a Netflix docu that many lost their hard-earned money over bitcoin/crypto.
All I want to say is, how can an investment in bitcoin/crypto skyrocket without any cause effect but only due to speculation?
And this speculation was madness, the reason why investments soared only to plummet for the same reason: speculation.
I still won’t dip my hands into this bitcoin/crypto thing even if the minimum investment has been downsized to make it more affordable.
Some financial experts keep promoting it to this day.
I just hope that the uninformed are not getting the wrong advice. I mean, there are many people who wanted to be successful in investing but choosing bitcoin as their 1st investment venture is just too risky, to say the least.
Just like Shaq, who has a Ph.D. degree. I’ll still follow the basic rule in investing: Do not get into it if you do not understand it.
To this day, I don’t invest in bitcoin/crypto so why will I?
To my friends who went ahead and invested in bitcoin/crypto, I wish you the best.
It just isn’t my cup of tea.
image source: CNBC/IG