Bitcoin

Motley Fool is adding $ 5 million Bitcoin to its ’10X Wallet’ and is targeting a price of $ 500,000

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.

Announced today by from a blog post and on TwitterThe company stated that it was not “buying overvalued ETFs” but “buying Bitcoin directly”. According to SimilarWeb, it is currently fifth in the world in the Investment category and has 87 million website visits per month. The Motley Fool outlined three main reasons to buy: Bitcoin is a better store of value than gold, an effective hedge against inflation, and the potential to become an object of transaction.

The company will invest in Bitcoin through its 10x real money portfolio as one of 40 assets that it expects to generate a return of 1,000% over the next 15 years. The company recommended the digital asset as the primary stake for all 10X members and it gave them time to buy BTC before The Motley Fool initiated its own purchase.

Motley Fool is adding $ 5 million Bitcoin to its ’10X Wallet’ and is targeting a price of $ 500,000
Motley Fool is adding $ 5 million Bitcoin to its ’10X Wallet’ and is targeting a price of $ 500,000

Given the long-term exposure, the announcement explains that volatility is of little concern.

“While it is very likely that Bitcoin will remain volatile in the short term, we believe that as part of a diversified portfolio, it has ten times more potential over the long term than current levels. We plan to keep this investment in Bitcoin for many years. “

If the company’s forecast is correct, Bitcoin will exceed $ 500,000 in the next 15 years. The Motley Fool says it has a solid track record with its investments.

The Motley Fool has so far selected 10 of the 40 investment picks for the 10X portfolio, with the others being the cloud computing company Appian Corporation, the Swiss biotechnology company CRISPR Therapeutics, the cybersecurity company CrowdStrike, the e-commerce platform Etsy, the genetic testing platform Fulgent, the insurer Lemondate, the social media platform Pinterest, mobile gaming platform Skillz and the video communications company Zoom. It should be noted that many of these values ​​have been recommended in other more basic investment services provided by the company.

The consulting firm has been familiar with cryptocurrencies for years. A 2017 analysis found that Bitcoin’s biggest competitor was not Ethereum, but Litecoin.

Strange fact:: The second most visited website by The Motley Fool website users is Internal Revenue Services.

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