2017 has been an incredible year for the cryptocurrency Bitcoin. It started the year worth around $1,000 each. By December it was hitting $11,000, and could be at least $12,000 by the end of the year, or the week.
And even the $1,000 price for one Bitcoin marks an incredible rise from where it started in 2009. Back then, if you had the technological expertise to buy and store Bitcoin, you could have picked up thousands for less than a penny each. Although designed to serve as a cybercurrency, it was unknown to the vast majority of the world, and no stores or merchants took it. In one famous case, a programmer used Bitcoin to pay for two large pizzas, but he had to pay the Bitcoin to a 3rd party. And he doesn’t reveal how or how much he tipped the delivery driver.
Most people missed that opportunity, or they spent their Bitcoin when it rose to $10. And crowds of people are pouring in now. The largest Bitcoin exchange, Coinbase, signed up 100,000 new accounts in a day.
So, is it too late to get in now? Maybe. A 10X+ price rise in just one year could easily be called a bubble. And nobody knows what is going to happen to it next year. And who cares? Bitcoin is no longer the only cryptocurrency in town. It’s only 50% of the volume. There are over a thousand altcoins, with new ones launched daily. Buy the right one while it’s worth only a few cents, and ride it to the top for your fortune.
The Oxford Club is an independent investment research and wealth advisory organization based in Baltimore Maryland. It has over 80,000 members from around the world in over 100 countries. They share wealth building information and advice. The club publishes both free daily email newsletters and other financial advice newsletters. Investment U is part of the investment educational arm of The Oxford Club. The Editorial Director is Jeff Yastine.
They published an article on cryptocurrencies to advise Oxford Club members of a news investment research product, Crypto Asset Strategies, from Adam Sharp and Andy Gordon. The Oxford Club also holds financial seminars and symposiums.