With Bitcoin $BTC reaching all time high, I'm getting a lot of questions about it. Is it a good investment? a good hedge against inflation?
The last time I owned Bitcoin was in 2018. I bought in late 2016 at $900 then sold at $19000. I also bought Ethereum $ETHEREUM at $28 and sold at $750, making them my best investments ever.
When I bought these cryptocurrencies, I was new to investing and was still trying to new things. I invested mostly in the blockchain technology and then got lucky with the bubble.
Are we in another Bitcoin bubble today? A bubble happens when retail investors invest but this time, it is mostly institutional investors buying Bitcoin as a hedge. The logic is that Bitcoin has low correlation with the S&P 500 $SPX500 , gold $GOLD , bonds and other asset classes.
Is Bitcoin a good hedge against inflation? Most people buying Bitcoin today want it to go up in value and at the same time to be used as a currency in the future. This is impossible. You cannot have a currency which is so volatile. If Bitcoin remains a store of value, then it is likely to be like gold. But it lacks the cultural value of gold and is likely going to be regulated as Ray Dalio pointed out recently in a tweet.
Other great investors such as Paul Tudor Jones and Chamath Palihapitiya believe, however, that you need 1% of your portfolio in Bitcoin.
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