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 Corruption Watch Executive Director David Lewis.
The Money Show’s Bruce Whitfield interviews Pieter du Toit, the assistant editor at News24.
The Money Show’s Bruce Whitfield interviews newly elected Black Business Council president Sandile Zungu.
The pros and cons of subscribing to versus buying digital content.
The Money Show’s Bruce Whitfield interviews George Glynos, Head of Research at ETM Analytics.
The Money Show’s Bruce Whitfield interviews Zodwa Velleman, CEO at the Vapour Product Association of South Africa.
Zille says properties under the control of the state should be made available for local government's affordable housing plans.
Dr Taj Hargey says he is advocating for the ban of women wearing burkas in public because they look ridiculous.
Institute for Race Relations researches Terence Corrigan explains why they believe the list Afriforum has released is genuine.