The Motley Fool, popular finance and investment advisory, has revealed its plan to invest $5 million in Bitcoin (BTC) with an anticipation of seeing Bitcoin trading at a price of $500,000 in 15 years.
Through a tweet and blog post, the firm stated that it is not interested to buy ETFs, which it considers overpriced, but will directly purchase Bitcoin. The Motley Fool, currently listed as the fifth top website in the investing domain by SimilarWeb, commands 87 million website visits every month.
The Motley Fool gave three main reasons for investment in Bitcoin. Firstly, it regards the numero uno crypto as a relatively better store of value than gold. Secondly, it is widely accepted as one of the best tools available to hedge inflation. Finally, Motley Fool believes that it has the requisites to transform into a transactional asset.
The firm intends to purchase Bitcoin via its 10X portfolio (using real cash) as it expects one of 40 assets to gain 1000% yield over the forthcoming 15 years. The company has suggested the cryptocurrency as the key investment to all its 10X members. Furthermore, the company is giving time for its members to invest in Bitcoin before it begins the purchase process.
As the firm intends to hold for a long-time, it is not bothered about volatility.
“While Bitcoin may very well continue to be volatile in the short term, we think it has 10x potential from today’s levels over the long term as part of a diversified portfolio. We plan to hold this Bitcoin investment for many years.”
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
We generally recommend investors aim to own at least 30 stocks and hold them for a minimum of 5 years.
And we think Bitcoin can play a role within a diversified portfolio built with a focus on the long term.
— The Motley Fool (@themotleyfool) February 17, 2021
More info: https://t.co/ALh8BdQ2l3
— The Motley Fool (@themotleyfool) February 17, 2021
In case the company’s forecast turns out to be true, then Bitcoin will be trading over $500,000 in the forthcoming 15 years. The Motley Fool has stated that it maintains a robust track record of investments.
Among the top 40 picks of Motley Fool in 10X portfolio, 10 of the assets had been revealed. This includes cloud computing firm Appian Corporation, Swiss biotech company CRISPR Therapeutics, cybersecurity company CrowdStrike, e-commerce service provider Etsy, genetic testing facilitator Fulgent, insurance company Lemondate, social media platform provider Pinterest, mobile gaming company Skillz and video communications service provider Zoom.
Notably, most of these stocks had been suggested in the company’s basic investment services. The Motley Fool had been tracking cryptos for years, with an analysis in 2017 calling Litecoin as the biggest competitor of Bitcoin.
Interestingly, as the second option, visitors of The Motley Fool go to the website of the Internal Revenue Service.
