On August 4, 2017, BitCoin hit a record high valuation of over $3,000 per coin in a blazing week of record setting. This new valuation per coin is $485 above the valuation that came just a month earlier. This also comes after BitCoin surpassed its previously high record of $2,000 in May, just 3 months ago. The total market cap of BitCoin is now around some $55 billion according to coinmarketcap.com; talk about growth!
Source: coinmarketcap.com as of 7 Aug 2017.
The price of BitCoin continues to climb and investor confidence is on the up, so does this mean it’s time to buy? Techies and investors alike continue to invest in the growing BitCoin trend and more and more people are taking note. You can even now use BitCoin as payment at several major stores, like Amazon and Expedia.
If you’re keen to invest in BitCoin it can be quite confusing at first glance. But iBillionaire recently launched a BitCoin strategy that makes it easier than ever to invest.
(If the concept of BitCoin still leaves you bamboozled, take a look at this article we shared recently on the ins and outs of cryptocurrency: read here!)
With the iBillionaires BitCoin Strategy you can now invest in this currency as easily as investing in an ETF and the great news is that it is available as part of the auto-savings platform. iBillionaire makes it easy to invest in this exciting asset, and it takes just a minute to set up, either on your computer or on your phone. Your account easily connects to your existing bank account and it’s extremely straightforward to invest in the strategy of your choice, for example BitCoin. In just a couple of clicks you can set aside a weekly recurring payment into the strategy of your choice.
As a general rule, no more than 20% of your total portfolio value is recommended to be held in cryptocurrency. As usual, it is good to follow the lead of billionaires who invest in a diverse range of assets, across classes like cash, stock, bonds, real estate etc. Cryptocurrency is an uncertain investment and can be very volatile, so it makes sense not to allocate 100% of your portfolio in this asset for now.
Building up a position over a long period of time and taking advantage of dollar cost averaging is a great strategy for investors and could be a good way to invest in the unpredictable BitCoin. By adding small chunks on a regular basis, automatic savings plans can be a great way to slowly, yet surely, build up a big position while taking some of the ups and downs out of the equation.
With something as volatile as cryptocurrency, auto-savings makes sense when thinking about the long-term potential future value of investments. Just a little bit every week can go a long way in the future.
The fate of BitCoin is a very uncertain one, but repeated news stories of record high valuations is hard to ignore. The idea of BitCoin and other cryptocurrencies is incredibly exciting and they have the potential to be one of the greatest disruptive forces in the financial industry.
BitCoin is a risky bet, but one that could have huge rewards in the future!
Invest in BitCoin Strategy today.