▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
Many people have been asking whether or not bitcoin is a good investment. According to Ken Fisher, what is and is not a good investment depends on the investor. Ken explains that bitcoin falls into the category of an emerging commodity. Importantly, bitcoin doesn’t do anything. While some people talk about bitcoin as a replacement for cash, it doesn’t act like cash. Cash has stable value so people can use it for transactions, whereas bitcoin fluctuates wildly and often.
Bitcoin’s price fluctuations are largely based on speculation. While there’s nothing wrong with speculation or investing in commodities, investors need to ask themselves what they know about something—bitcoin, in this case—that others don’t. Ken believes buying bitcoin without having an answer to that question means you’re largely relying on luck.
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▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
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