MyMoney Online, The Personal Finance series with Warren Ingram

Missed out on Bitcoin? Read this if you're wondering if it’s too late now

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)!

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.

The Money Show’s Bruce Whitfield interviewed Galileo Capital Personal Financial Advisor Warren Ingram.

For more detail than this article provides; listen to the interview in the audio below.

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This article first appeared on 702 : Missed out on Bitcoin? Read this if you're wondering if it’s too late now


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