What’s Far Better Than Bitcoin

Investing Investing in Stocks IPOs Stocks
by 

2017 has been the year of digital currencies.bitcoin boom
Bitcoin  ̶  the “golden standard” of digital currencies  ̶  has surged 396% in the last year. Meanwhile, up-and-comer Ethereum has surged from $11 in February to $382 in June.
This bull market may be even more profitable than bitcoin (click here for access).
The big move for these alternative currencies has attracted lots of attention from an interesting cast of characters.

  • Billionaire investor  ̶  and former Goldman Sachs partner  ̶  Mike Novogratz is investing 10% of his net worth in digital currencies.
  • Boxer Floyd Mayweather is actively promoting new initial coin offerings (ICO) on Instagram.
  • The Winklevoss twins ̶  who banked $65 million after accusing Mark Zuckerberg of stealing their idea to create Facebook  ̶  are working to launch the first bitcoin ETF.

Now, you’re probably familiar with the cryptocurrencies bitcoin and Ethereum.
Quick background for folks who’ve been ignoring the bitcoin boom: Cryptocurrencies are digital currencies that are NOT created by a government. Instead, they were developed by programmers who wanted to create a new and secretive currency that is not associated with any government.

Sketchy Beginnings

The bitcoin boom sounds intriguing, yet it hasn’t been well received among merchants. Only three of the top 500 U.S. e-commerce merchants accept bitcoin. Bloomberg reports that bitcoin use in e-commerce transactions is actually decreasing, due to the rise in price and increased speculation.
Bitcoin became well known as the payment method of choice on the Silk Road website, a platform for selling illegal drugs. It’s also become the preferred currency for kidnappers and terrorists, due to its secrecy. By design, bitcoin cannot be tracked.
Other than illegal activities, there really hasn’t been much “use” for these digital currencies.
So, what’s fueling the bitcoin boom? And the similar rally for Ethereum and interest in ICOs?
Speculation.
It’s nothing more than folks betting that the price tomorrow  ̶  or next week of next year  ̶  will be worth MORE than the price today.
Buying bitcoin is simply a speculation on future price appreciation. It’s investors today betting that there will be a greater fool in the future who is willing to pay more.
The big gains  ̶  and future promise of bitcoin  ̶  have attracted lots of interest. This is especially true of millennials, who are new to investing and never experienced the dot-com boom.
These new investors are attracted to digital currencies because they break away from the status quo. Cryptocurrencies are new and different, and difficult to understand.
Part of the interest may also be a distrust of the government. Long ago, national governments and centrals banks moved away from the gold standard. And in the wake of the 2008 – 2009 recession, central banks have been printing record amounts of money. That raises lots of questions about the value of the U.S. dollar, the euro and the yen.
Now, bitcoin may continue surging. Today on CNBC, one investor suggested that bitcoin will reach $5,000 by 2018.

Bitcoin Boom . . . or Bust?

Speculative markets can take asset values to obscene overvalued levels. Next stop for bitcoin could be $3,000 . . . $5,000 . . . or $500. Nobody knows. And after such a quick and impressive move, you’ve got to imagine that some speculators have their finger on the SELL button.
If you’re looking for growth, you can jump into the bitcoin boom. However, there may be a far better situation.
You see, Airbnb, Spotify, Uber and other top Silicon Valley companies could be secretly preparing to go public.
These are REAL companies with customers . . . .  real businesses  ̶  and growing revenues. Plus, some of the top venture capitalists have put up more than $100 million to finance each company.
Since I’m always looking for growth, these companies hit the spot. Plus, when I invest in these companies I’m grabbing a stake in America’s next big growth companies.
These upcoming IPOs are better than bitcoin. And they’re within your reach (without a special account).
Go here to access my LIVE briefing  ̶  including details on the upcoming Spotify IPO.

To top