The Most Profitable Investment in the History of the World
The Most Profitable Investment in the History of the World by Justin Spittler – Casey Research
Justin’s note: If you’ve been reading the Dispatch, you know a digital currency revolution is underway. Many of these currencies have doubled or tripled in value in recent months. Others are up thousands of percentage points.
It’s like nothing we’ve ever seen.
Many folks are now wondering if this is the opportunity of a lifetime or a bubble. To help answer this question, we’re sharing a recent essay from Doug Casey’s friend and colleague Bill Bonner. I encourage you to read this essay closely if you’ve ever thought about buying digital currencies.
By Bill Bonner, chairman, Bonner & Partners
Today, let’s talk about cryptocurrencies – private digital currencies that use encryption to operate without the need for banks and central banks.
Herewith begin two days of thinking about why we should spend two days thinking about them.
We began our research yesterday:
“How much have you lost so far?” we teased one of our sons.
He is a big fan of cryptocurrencies and has invested not only his own money, but also some of the family money.
We thought it was a bad idea, little different from gambling. But heck, the kids need to learn to make good financial decisions.
How do you learn to make good ones?
By making bad ones!
Heh-heh… Are you kidding, Dad? I’m glad we didn’t follow your advice.
“Bitcoin went up 10% on Saturday. We’re up $100,000 in the family account, since the end of June. That’s a 39% gain since we started. My account has done much better. But I started earlier.
“Look, cryptocurrencies are the most profitable investments in the history of the world. In 2010, if you just put $100 into bitcoin, today you have about $6 million.
“The Winklevoss twins – the brothers who sued Mark Zuckerberg over the origins of Facebook – have made billions. And ordinary people are getting rich overnight. This is no joke. I put $1,500 into one of these crypto startups. It was worth $36,000 in just a few days.