cryptocurrencies Two years have gone by on a roller coaster, but 2019 has been fruitful for the owners of bitcoin. The value of a bitcoin increased more than 85% since January 1, placing it among some of the highest performing financial assets of the year. In fact, a report recently made by Bank of America named Bitcoin the best investment of the last decade. “Data-reactid =” 31 “> The cryptocurrencies Two years have gone by on a roller coaster, but 2019 has been fruitful for the owners of bitcoin. The value of a bitcoin increased more than 85% since January 1, placing it among some of the highest performing financial assets of the year. In fact, a report recently made by Bank of America named Bitcoin the best investment of the last decade.
However, despite their successes, many critics still advise against investing our money in bitcoin.
“It’s a pyramid scheme,” LendingTree chief economist Tendayi Kapfidze told Yahoo Finance. “You only earn money according to the number of people who enter after you.
“It has no real use in the world. Ten years have passed trying to create a utility for that cryptocurrency. It is a solution in search of a problem and has not yet found a problem to solve. ”
–
The staunch cryptocurrency advocates indicate that the environment has evolved favorably since digital currencies broke into the main market. Since the meteoric rise in bitcoin in early 2017, we have witnessed how some of the world’s largest financial institutions have adopted cryptocurrencies. Even central banks have taken the first steps to implement their own digital currencies.
However, experts warn that investing in cryptocurrencies as an asset is a purely speculative move.
“I have several cryptocurrencies. I invested in them at the end of 2016 and the beginning of 2017. I bought them with the same assessment and with a specific thought: ‘there is something here, but I don’t know what it is,’ ‘said the head of market strategies at Bruderman Asset Management, Oliver Pursche
“I have five cryptocurrencies … and if I’m lucky, one of them will become a star.”
the technology that supports the blockchain. “data-reactid =” 59 “> Pursche says he invested in cryptocurrencies not only to diversify his portfolio, but also to learn about the technology that supports the blockchain.
“I don’t think you invest in this thinking that you will become a billionaire or millionaire. It is a serious investment, you have to assume that you can lose all the money and that it is something merely speculative, ”he told Yahoo Finance.
“In my case, it’s also a way to train me … I think if you want to learn about cryptocurrencies, you should have some because that’s the only way to pay attention to them and understand how they work.”
Nick rose“data-reactid =” 67 “>Nick rose
–
