Bitcoin is the first decentralized cryptocurrency that allows you to pay anyone in the world, instantly, without the need of a central authority. Nodes in the peer-to-peer bitcoin network verify transactions and record them on a blockchain (a public distributed ledger). The price of a bitcoin can be unpredictably, and unlike gold, is a very young economy with bitcoin only being invented in 2008. Over short periods of time the price of bitcoin can rise and fall dramatically but its price has increased faster than any other asset over the past 10 years. Whether it is a good investment or not, it depends. Individuals should look inside their own investment portfolios, risk tolerance and financial goals before investing in bitcoin. For those with a specific financial profile and goals, a bitcoin allocation of 1%-10% may be advisable.
Recommended ETFs for Bitcoin Investment