Financial and investment advisory giant The Motley Fool has announced it will invest $ 5 million in Bitcoin with the expectation that it will climb to $ 500,000.
The company announced today via a blog and a Twitter post that it would not “buy overpriced ETFs” but “buy bitcoin direct”. According to SimilarWeb, The Motley Fool currently ranks fifth worldwide in the Investing category. With 87 million website visits per month, three main reasons for buying were cited: Bitcoin is a better store of value than gold, an effective hedge against inflation and that it has the potential to become an object of transaction.
Here’s why:
1. We believe it will store value more effectively than gold in the long run.
2. We believe it can become a medium for transactions, as if pricing stabilizes in the next decade.
3. We believe this can be a productive hedge against inflation.
– The Colorful Fool (@themotleyfool) February 17, 2021
The company will invest in Bitcoin through its 10x real money portfolio as one of 40 assets it predicts will generate a 1,000% return over the next 15 years. The company has recommended the digital asset as a core investment to all 10X members and given them time to buy BTC before The Motley Fool initiates its own purchase.
Given the long-term exposure, the announcement explains that volatility is of little concern.
“While Bitcoin can still be volatile in the short term, we believe that as part of a diversified portfolio it has ten times the potential over the long term compared to today’s level. We plan to hold this Bitcoin investment for many years. “
Should the company’s forecast prove true, Bitcoin will exceed $ 500,000 in the next 15 years. The Motley Fool says it has a solid track record of investing.
The Motley Fool has so far named 10 of the 40 investment picks for the 10X portfolio. The others are the cloud computing company Appian Corporation, the Swiss biotech company CRISPR Therapeutics, the cybersecurity company CrowdStrike, the e-commerce platform Etsy and the genetic testing platform Fulgent. Insurer Lemondate, social media platform Pinterest, mobile gaming platform Skillz and video communication company Zoom. It’s worth noting that many of these stocks have already been recommended in the company’s other, more basic investment services.
The consulting firm has known cryptocurrencies for years. An analysis from 2017 shows that Bitcoin’s biggest competitor was not Ethereum, but Litecoin.
Fun fact: The second most visited website that users visit from the Motley Fool website is that of the Internal Revenue Services
