But, despite its soaring popularity, I will never invest in bitcoin or any other cryptocurrency. Here’s why.
Investing in bitcoin is risky and a gamble. In my opinion, it is foolish. I base my point on a simple concept – intrinsic value. Intrinsic value is the perceived value of an investment, company, or asset. It helps investors predict whether or not they are going to be in profit. Now, here’s the catch – there is no intrinsic value in bitcoin.
Nobody can predict the right value of bitcoin in the future. People might say that the value will keep going up, but my point is, you don’t know that. In my observation, people buy bitcoin thinking someone else will buy it later at a higher price, and not because they think bitcoin has some value. This is the reason why I do not buy bitcoins – and I never will.
Now, you may ask, what about gold? Gold is not earning any cash? True. But, gold has consumer value. People wear gold and feel happy. There is a demand for gold jewelry. Bitcoin, on the other hand, is not a consumer asset, gives no satisfaction and no cash flows.
Should you do it, I am making no judgments. My point is limited – if you’re putting money in bitcoin, you’re gambling. Should you gamble? That is your choice. I think not.
Make the right decision- I am sure you will.
00:00 Introduction
00:47 Why I will never invest in bitcoin
03:32 What about gold?
03:52 Investing in bitcoin: A gamble!
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