Joan and I were out for our daily walk this week when we met a neighbor in her driveway. She wanted to tell us how her husband had purchased 2 bitcoins last year in February and paid $6,250 each. "He was certain they had room to grow she proclaimed, today, they are worth $50,000 each! My husband thinks I should invest in them too. What do you think?"
I told her, "You should never use Bitcoin and Invest in the same sentence. Speculate - is a much better term. While your husband is willing to risk losing $12,500, you must ask yourself . . . "am I willing to lose $100,000?"
The term "Bitcoin" brings up bad memories of the stock market rout in 2000. An excellent case presented itself for each of the newly formed tech companies establishing a presence on the internet preparing to sell to the entire world. Unlimited sales were possible!!! Their stock prices skyrocketed!
Check out today's Club PUB to get a better understanding of Bitcoins. You'll probably have to read it twice (which should also bring you to pause)!
Here's this week's lineup.
Turntable - Top 50's music . . . The flipSide - The Beach Boys...
The Club PUB - Investing Cryptomania's Uncertainties
That's a wrap!
Till Next week / be safe &
I'll see you on the Turntable!