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Financial and investment advisory giant The Motley Fool has announced it will invest $5 million into Bitcoin (BTC) with the expectation that it will rise to $500,000.
Announced earlier today via a blog and Twitter post, the firm stated it wonât be âbuying overpriced ETFsâ but will be âbuying Bitcoin directly.â Currently ranked fifth globally in the investing category, according to SimilarWeb, and with 87 million website visits per month, The Motley Fool outlined three core reasons behind the purchase: Bitcoin is a better store of value than gold, itâs an effective hedge against inflation and it has the potential to become a transactional asset.
The firm will be investing in Bitcoin through its 10X real-money portfolio as one of 40 assets that it predicts will provide a 1,000% return over the next 15 years. The firm has recommended the digital asset as a core holding to all its 10X members and has provided time for them to purchase BTC before The Motley Fool initiates its own purchase. It added that in the coming weeks the company âwill also be separately buying $5 million in Bitcoin on our own balance sheet.â
Due to the long-term commitment, the announcement explains that volatility is of little concern.
âWhile Bitcoin may very well continue to be volatile in the short term, we think it has 10x potential from todayâs levels over the long term as part of a diversified portfolio. We plan to hold this Bitcoin investment for many years.â
Should the companyâs prediction prove true, it will see Bitcoin passing $500,000 within the next 15 years. The Motley Fool says it has a solid track record with its investments.
The Motley Fool has so far named 10 of the 40 investment picks for the 10X portfolio, with the others being cloud computing company Appian Corporation, Swiss biotech firm CRISPR Therapeutics, cybersecurity firm CrowdStrike, e-commerce platform Etsy, genetic testing platform Fulgent, insurer Lemondate, social media platform Pinterest, mobile gaming platform Skillz and video communication firm Zoom. It is worth noting that many of these stocks have already been recommended in the firmâs other, more basic investment services.
The advisory firm has been aware of cryptocurrencies for years now, with a 2017 analysis suggesting that Bitcoinâs biggest competitor was not Ethereum but Litecoin.
In other trending Bitcoin News today:
âInsaneâ Bitcoin price consolidation means $48K is the new BTC support level
Bitcoin (BTC) has seen âunrealâ price consolidation since the start of February 2021 â and fundamental support is now at $48,000.
According to on-chain monitoring resource Glassnode, the second month of the year has been a formative period for Bitcoin like no other.
Discussing the current state of the Bitcoin network, co-founders Yann Allemann and Jan Happel said that many price indicators had been allowed a âresetâ in February.
âThe amount of consolidation Bitcoin has seen since January is unreal. It really allowed fundamentals to catch up and indicators to reset,â they wrote in a tweet on Feb. 17.
âLooks like $48k is the new $35k now.â
The buoyant perspective adds fuel to the bulls hoping that $50,000, a level Bitcoin took for the first time this week, will form a solid foundation without a major correction.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Weâve got BIG NEWS! Weâre buying $5 million in Bitcoin on our own balance sheet.
That’s right. $5 million.
â The Motley Fool (@themotleyfool) February 17, 2021
Iâm raising my short term #BTC price target from $65K to $77K based on growing supply-shock issues â as coins are removed from exchanges
My 2021 target of $220,000 remains pic.twitter.com/y1SKIYQW53
â Max Keiser (@maxkeiser) February 17, 2021
$250k by end of 2022. Just 5X from here. Looking a lot more likely than when I made the initial prediction three years ago, eh? #Bitcoin
â Tim Draper (@TimDraper) February 17, 2021
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