2021-2-18 17:15 |
The Motley Fool, the 4th largest investing website in the world, has become the latest one to jump on the Bitcoin bandwagon as it announces its plans to allocate $5 million of its cash to Bitcoin.
Following the footsteps of Tesla, MicroStrategy, and Square, The Motley Fool is adding Bitcoin to its balance sheet as a hedge against inflation. They clarified that instead of buying overpriced ETFs, they are directly buying BTC.
Interestingly, the website recorded monthly traffic of 90.55 million in January 2021.
They are not only buying Bitcoin but recommending the digital currency to its millions of users, as part of its 10x campaign where they find investment opportunities with the potential to increase 10x in the next five, ten, or fifteen years.
“In our 10X real-money portfolio, we are recommending and buying Bitcoin.”
Bitcoin will be a “core holding” in their 10X portfolio, which now joins 39 other stocks that they believe could provide 10x returns.
“We will not only wait for all of our members in 10X to be able to buy before we buy our 10X allocation, but we’re also giving all Motley Fool members a chance to review this guidance before we separately stake $5 million of The Motley Fool’s own capital.”
How it started: How it's going: pic.twitter.com/4vK4dsC4Ko
— Mason Nystrom (@masonnystrom) February 17, 2021
The company shared the big news on Wednesday with its audience while explaining the reason for this decision, a big shift from their 2013 view that saw Bitcoin as a “terrible” investment. The announcement reads,
“We believe it will store value more effectively than gold over the long term.”
The Motley Fool believes Bitcoin may even become a medium for transactions if the price of the digital currency stabilizes in the decade ahead.
“We believe it can act as a productive hedge against inflation.”
The website explains how they generally recommend investors to own at least 30 stocks and hold them for a minimum of half of a decade. And because they are focused on the long-term opportunity, they aren't worried about the volatility in the short term.
The price of Bitcoin has nearly increased 13x since its March 2020 low as it currently trades above $52,000.
“We plan to hold this Bitcoin investment for many years,” said the team. The Motley Fool believes Bitcoin can play a role within a diversified portfolio built with a focus on the long term.
Bitcoin/USD BTCUSD 51,726.9981 $770.73 1.49% Volume 54.25 b Change $770.73 Open$51,726.9981 Circulating 18.63 m Market Cap 963.78 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=BTC&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~BTC~USD"); The post The Motley Fool Tells its 90M Audience to Buy Bitcoin; Adds M BTC to its Own Balance Sheet first appeared on BitcoinExchangeGuide.Similar to Notcoin - Blum - Airdrops In 2024
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