The Virginia-based financial company The Motley Fool plans to buy Bitcoin worth $5 million.
We’ve got BIG NEWS! We’re buying $5 million in Bitcoin on our own balance sheet.
That’s right. $5 million.
— The Motley Fool (@themotleyfool) February 17, 2021
Representatives cited the main reasons for buying digital gold.
Here’s why:
1. We believe it will store value more effectively than gold over the long term.
2. We believe it may become a medium for transactions, as/if pricing stabilizes in the decade ahead.
3. We believe it can act as a productive hedge against inflation.— The Motley Fool (@themotleyfool) February 17, 2021
1. We believe that, in the long run, Bitcoin will be a more effective store of value than gold.
2. We believe it could become a medium of exchange, as prices stabilise in the coming decade.
3. We believe it can serve as an effective hedge against inflation.
We generally recommend investors aim to own at least 30 stocks and hold them for a minimum of 5 years.
And we think Bitcoin can play a role within a diversified portfolio built with a focus on the long term.
— The Motley Fool (@themotleyfool) February 17, 2021
We generally recommend that investors own at least 30 stocks and hold them for at least 5 years. And we believe that Bitcoin can play a role in a diversified long-term portfolio.
The company also stressed that they are not concerned by short-term volatility. In addition, The Motley Fool plans to buy cryptocurrency ‘directly, rather than investing in ETFs’.
Earlier, Elon Musk’s Tesla invested $1.5 billion in Bitcoin, sparking a rally in cryptocurrency prices.
For details on how billionaires are changing their views on cryptocurrencies, see ForkLog:
From denial to acceptance: how billionaires are moving to cryptocurrencies
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