The Absolute Worst Way to Invest in Bitcoin
If you think the 11-month rally in the three major stock market indexes is impressive, you probably haven't been paying close enough attention to Bitcoin (CRYPTO: BTC). The world's largest cryptocurrency by market cap has tripled over the past three months, is up more than 480% over the trailing year, and has vaulted higher by 12,710% on a trailing five-year basis. For context, the benchmark S&P 500 is up 104% over the trailing five-year period.
Bitcoin has had the usual array of tailwinds in its sails during its latest bull run. These catalysts include the perception of scarcity -- i.e., its 21 million token limit will be a store of value against a growing U.S. and global money supply -- and the growing acceptance of Bitcoin by businesses as a form of payment.
The world's first trillion-dollar crypto token has also been buoyed by bullish tweets from Tesla CEO Elon Musk. Tesla is one of a handful of companies, including The Motley Fool, to have purchased Bitcoin to hold on their balance sheets.
Source Fool.com
