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?
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: Peter McCormack. Peter is a Bitcoin expert and host of The What Bitcoin Did Podcast, a twice-weekly podcast about all things Bitcoin.
Sit back, relax and listen to this week’s “Money!” podcast:
Not familiar with podcasts?
A podcast is basically a radio show you can listen to anytime, either by downloading it to your smartphone or other device, or by listening online.
They’re totally free. They can be any length (ours are typically about a half-hour), feature any number of people and cover any topic you can possibly think of. You can listen at home, in the car, while jogging or, if you’re like me, when riding your bike.
If you haven’t listened to a podcast yet, give it a try, then subscribe to ours. You’ll be glad you did!
Want more information? Here’s additional reading:
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.
Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.
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