- Is Bitcoin overpriced & should we still buy at these prices?
Great question. I am in the group that believes – and it is a belief but based on circumstance and the environment we live in – that Bitcoin is going much higher over time.
- Time? How long?
Two to four years – probably longer.
- How high?
Five to twenty times higher. There has been a shift in thinking, belief and attitude. Bitcoin now has an identity as a New Asset Class with a limited availability. 21 million shares total issuance. That is a tiny number when considering this as a new global asset class.
- How to approach buying Bitcoin?
As an asset class, we recommend dollar-cost-averaging (DCA) into Bitcoin or Trusts/ETF’s (example – GBTC) that allows the accumulation of Bitcoin. This could be through crypto exchanges, like Coinbase (others) or PayPal or Square. We suggest buying in a traditional dollar-cost-averaging. Regular purchases, that you can afford – equal dollar amounts regardless of price, over an extended period of time. Do not trade as the upside is much bigger over time than 99% of us have the ability to trade.
Below is a recent 15-minute video by Mike Maloney about the current price of bit coin and is it overvalued. Mike is a long time Gold and Silver dealer and long-time buyer/owner of crypto currencies. Worth the time to see. Linked here as well.
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Bitcoin has just hit an all-time-high price, and our support desk has been inundated with questions from customers asking what Mike Maloney makes of this. In response, Mike has recorded two in-depth videos that answer the questions we are seeing the most: Is it too late to participate? Can Bitcoin go to zero? What other cryptocurrencies does Mike own? What is his strategy? All that and more in today’s double Bitcoin feature. Enjoy. Part 2 will be released immediately after Part 1 concludes. |
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Good luck to us all and may the Force be with you.
Where Value meets Buy Signals!
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* An account related to LOTM holds a position in this security.
Neither LOTM nor Tom Linzmeier is a Registered Investment Advisor.
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