On 17 March 2010, the now-defunct BitcoinMarket.com exchange – the first one ever - started operating.
Back then, one Bitcoin cost $0.003.
If you had invested $1000 (R7287) then, you would have received 333 333 coins.
Today, that would equate to $2.7 billion (R34 billion)!
Crypto-zealots know NOTHING about economics, money, central banks, banks, finance, economic history, financial crises, asset bubbles. But like all religious fanatics they claim to know it all better than scholars who studied this stuff for decades. Crypto-voodoo trumps Science— Nouriel Roubini (@Nouriel) May 16, 2018
Many people who feel enormous regret are now investing in Bitcoin for fear of missing out.
Some are borrowing money to do this.
Imagine investing in December last year on borrowed money – you would be more than 50% down!
Early investors would not have held their investment to now; when your R7300 is worth R647 million five years later, you would have been selling!
Especially when you can lose 70% in a few months!
Investing with regret is a terrible way to start your investment portfolio.
You’re always playing catch up with a fiction – other people didn’t actually make all this money!
You need time and patience and you should be investing in businesses that have an understandable set of drivers – what really drives Bitcoin?
Amazon is a great example of excellent growth, driven by factors that are understood.
At listing in 1997 a share cost $18 dollars.
Today it’s worth $1585.
That is an 88-times increase in 21 years.
For more detail than this article provides; listen to the interview in the audio below.
Enjoy The Money Show, but miss it sometimes?
Get the best bits emailed to you daily, right after it ends:
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:
Recommendedby NEWSROOM AI
The Money Show’s Bruce Whitfield interviews Pavlo Phitidis, founder of Aurik Business Accelerator.
The Money Show’s Bruce Whitfield interviews Darryn Faulds, a fund manager at Grovest Group.
Revenue collections are surprisingly good, so far, thanks to the VAT hike. Bruce Whitfield interviews PwC's Kyle Mandy.
Times are tough. Don’t spare her feelings! You must ask these questions of your advisor, implores Galileo Capital's Warren Ingram.
Bruce Whitfield interviews John Oliphant, former Principal Executive Officer at the Government Employees Pension Fund.
Testimonies at the Sars Inquiry has many South African taxpayers panicked. Bruce Whitfield interviews Sars' Mark Kingon.
Dukwana accuses Magasshule of taking him to Saxonwold and asking him to sign a project over to the Guptas for R2 million a month.
Judge Mandela Makaula has dismissed the defence application saying it has no merit.
EWN Reporter Barry Bateman gives the latest on what is happening at the Nugent Commission of Inquiry into Sars.
Sizwe Mpofu-Walsh and callers discuss ways that corporate SA should help displaced Khayelitsha fire victims in Cape Town.
Cheryl Zondi is testifying against Pastor Timothy Omotoso who is accused of rape and human trafficking in his Durban church.
These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.