Consulting company The Motley Fool announced on Twitter that it is investing $ 5 million in bitcoin. According to company representatives, in the long term, the first cryptocurrency may rise in price 10 times from current levels. Writes about this RBC Crypto.
We’ve got BIG NEWS! We’re buying $ 5 million in Bitcoin on our own balance sheet.
That’s right. $ 5 million.
– The Motley Fool (@themotleyfool) February 17, 2021
The Motley Fool predicts that Bitcoin volatility will decrease in the next decade, allowing the main digital coin to become a payment instrument. The company plans to use the asset as a hedging instrument to hedge against inflation.
On February 18, the value of bitcoin again renewed its historical maximum, reaching $ 52.6 thousand.The market capitalization of the main digital coin increased to $ 970 billion.
“While bitcoin may continue to be volatile in the short term, we believe it has 10x the potential over today’s levels in the long term as part of a diversified portfolio. We plan to keep this investment in bitcoin for years to come, ”The Motley Fool said in a release.
The company noted that they are not going to buy ETFs at an inflated price, but are planning to buy BTC directly. Analysts at The Motley Fool have already started recommending investing in Bitcoin to their clients by including the coin in their “10x portfolio”. This portfolio contains 39 assets that can show 10x growth in the next 15 years.
According to SimilarWeb, The Motley Fool is the fifth largest investing site in the world with 87 million monthly visitors.
Earlier, MicroStrategy announced plans to increase its investment in bitcoin by $ 900 million.
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