Is It Too Late to Buy Bitcoin?

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Imagine you bought 1,000 shares of stock at $1 per share 10 years ago, back in 2011. And say your stock did exceedingly well, compounding at 20% per year. Result? Your $1,000 original investment would be worth more than $6000, six times what you put in. Well done!

Now imagine that instead of stock, you’d put the same $1,000 into bitcoin 10 years ago. What would that be worth today? As I write this, about $55 million.

That’s right. One bitcoin went for as little as $1 back in 2011, and as of March 17, 2021, it’s changing hands at more than $55,000. Bitcoin rose more than 200% per year, every year, for the past 10 years. Ever heard of anything like that?

Me neither.

Depending on who you talk to, Bitcoin is smoke and mirrors — a complete hoax — or it’s an investment that’s still in its infancy. Think today’s price is insane? There are folks who think it will one day be more than $1 million.

So, what’s an investor to do? Jump on board before the train completely leaves the station? Invest in other, less-expensive cryptocurrencies? Or, should you simply run the other way?

That’s what we’re going to attempt to determine in this week’s “Money!” podcast.

As usual, my co-hosts will be financial journalist Miranda Marquit and producer Aaron Freeman. We also have a special guest this week: Jimmy Nguyen, President of Bitcoin Association. Jimmy is one of the world’s top Bitcoin and blockchain advocates.

Sit back, relax and listen to this week’s “Money!” podcast:

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Show notes

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About me

I founded Money Talks News in 1991. I’m a CPA, and I have also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.