Not JPMorgan too! "Investors could consider shifting up to 1% of their portfolio to Bitcoin"
fortune.com/2021/02/25/jp-morgan-bitcoin-inve...
fortune.comPosted Feb 27, 2021, 3:59 PM UTC
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fortune.comThey were just issuing warnings about Tether the other day too
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This whole thing is dodgey as fuck and might completely collapse at any moment, so we recommend considering putting 1% of your net worth into it.
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It’s always different analysts tbf
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Often with these kind of news, it is more often than not, that only few people (out of many different departments), out of 240 000 (just checked JPM worker count), that make this statement, which then either news sites/community and what not spins/exaggerates such a way that seemingly now whole conglomerate have suddenly become hard core crypto believers and are suddenly rushing into exchanges and every worker and their dog now desperately tries to get that low price of 47k bitcoin.
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JP Morgan owns tons of silver.
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Even if BTC goes to $1M from here the portfolio gain on 1% will not be life changing.
Why spend 1% on something which even many of it’s supporters admit cannot easily be valued, as against spending the 1% on a well researched stock.
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When I stay with your argument, your well researched stock will not be life changing either.
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I don’t necessarily want it to be, just hope to get some profit down the road. Though I think some stocks historically have given life changing multiples.
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Honestly, the fact that I got $18 in profit this past year from $18 invested in "well-researched stock" COULD have been life changing in an emergency, and the fact that I can expect at least that much profit next year is a tiny bit of reduced anxiety as a member of the working poor.....
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If you have 1% of a $10,000 portfolio in BTC today, and it goes to 1M in your example that would be a 20x gain. That 1% of your portfolio now represents 20% of it's value.
You should always have a small portion of your portfolio in high risk/high reward stuff since the loss is negligible but the upside is significant.
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I’m asking whether it would make a life changing difference to me to have a 12M compared to 10M pension pot.
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For pensions? Even more so. The more money they have the better and are more likely to survive downturns. When pension funds die it tends to be a bad thing.
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Starting to smell the desperation.
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Tomorrow they gonna beg for 0.5%
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Please clap
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What is with this "1%" stuff? I genuinely don't get it. If BTC crashes, you lose your 1%. If the bitcoin maximalists are right and USD hyperinflates or whatever, then you've preserved ... 1% of your wealth. Hurrah.
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I think their argument is that the downside is 1% but the upside is potentially unbounded.
In reality though for you to gain 100% on any Bitcoin allotment (so 1% of your portfolio to become %2), then the price needs to double. At 45,000 USD / Bitcoin that means you need it to rise to 90,000 / USD and without manipulation in the form of infinite magic money sprinkles from the likes of Tether and that looks to be a tall order.
Since most cryptos with the exception of some stablecoins have no intrinsic value, the higher the price goes the more downside risk late stage investors are exposed to.
If you buy 1 BTC now you are exposed to potentially 45,000 USD in losses.
If you buy less, then your potential losses are proportionally reduced but your gains from any rise are also limited.
Rises in crypto prices merely exacerbate the risk versus reward and far better ratios can be found elsewhere for example on the stock market; 45,000 spent on Cruise Line shares or Big OIL like $XOM would net you significant potential upside vs downside risk and in some cases dividends as well.
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Regardless of the price, if you invest $1000 you get a $1000 worth of Butts. If the price doubles, your investment doubles.
If you invested $100,000, it's the same.
Outside of the increasing amounts wasted on mining, the absolute price of Butts is completely unrelated to the amounts you can make or the amounts traded.
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but the upside is potentially unbounded
With a cap of 800B it's difficult for BTC to get massive gains anymore. There's only risk without the rewards. Of course the situation can change if we see another -85% correction.
If people want unbounded profits then they should invest in shitcoins that can literally come up 100000% in a week.
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Is there absolutely no in between? It’s only binary options on both extremes?
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The in-between is "nothing much happens". But given the chance of a crash, the payout doesn't seem high enough.
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I've started drawing the bitcoin currency logo on credit card receipts whenever a signature is required.
Snapshots:
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Is JP selling boots, pans and pick axes too?
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[deleted]
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They probably already bought a shitload of Bitcoin ready to dump it on their retail investors SMH
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[removed]
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Yeah, no.
I have literally $20 invested via CashApp, because long story but it wasn't worth the hassle to get it out of there. So I figured it couldn't hurt to invest it, since it was basically money I didn't have already.
$19 of it is in stocks that I picked carefully based on my own weird personal tastes and rational assessments of what I think the future will hold. $1 is -- WAS -- in BitCoin, as a "lol why not?" experiment this week. That makes it exactly 5%, because you can't do less than $1 transactions.
That $1 turned to 85 cents overnight and is still dropping. The $19 in stocks turned into $37 over the past 10 months. Not a vast fortune, but it's either moving up or staying equal -- unlike the Buttcoin. IF it ever goes back up to $1, I'm selling it and putting it on Yeti Coolers (my top performer.)
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? In the past 10 months buttcoin has gone up over 500%
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And since I bought it, it's tanked hard. (Tulips went up too, until they didn't.)
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Well, yes, JPM has a blockchain department which continuously need to justify their existence