No matter what you think of Bitcoin, the reality is that it’s being used around the world and its underlying technology, the Blockchain, is being used and considered by many of the world’s largest companies, including many financial companies who realize that it may provide the key to their future ability to manage transactions.
The reality is also that you can buy and sell Bitcoin on a 24-hour market every day.
That means that it always has a dollar denominated price and because it can be bought and sold, it can rise or decline in value. The current market cap for Bitcoin is over $6 Billion. Many are using it as an alternative investment for their overall portfolios and any investor can buy the Bitcoin Investment Trust for their account (GBTC), which if you bought six months ago, you would have doubled your investment today.
But Bitcoin is NOT the investment that I’m considering as THE next investment opportunity. As more interest in focused on Blockchain related projects and competitors to Bitcoin, there have been numerous other virtual currencies that have appeared. One of these is Ethereum, which now has the second largest market cap of crypto-currencies behind Bitcoin after it reached a value of $1 Billion recently. The currency of Ethereum in Ether and that has soared as high as $12 from $1 since the beginning of the year.
Now I know for many of you not familiar with Bitcoin, Ethereum or the world of cryptocurrencies, this all may seem rather strange and even bizarre in terms of investment vehicles. However, the reality is that people all over the world are trading these currencies and making (and losing) actual dollars (or their equivalents) doing so. The other reality is that there are many other cryptocurrencies also trading on worldwide exchanges as well. An excellent article on the new investment opportunity of these multiple cryptocurrencies is available by Alex Sunnarborg, the CFO of a leading (and easiest) Bitcoin transaction services (available on all mobile devices) called Lawnmower.io. It’s a great state-of-the-market piece regarding the leading cryptocurrencies and may indicate that THE next great investment opportunity may be portfolios of these cryptocurrencies and that Lawnmower may be leading the way to creating the ability for the typical investor to access these portfolios.
Alex’s article is here.