Comment by Jim Campbell, Citizen Journalist, Oath Keeper and Patriot.
Is this nothing more that going to Las Vegas and putting a chunk of money on red at the roulette wheel?
Or is this a sound prudent part of an investment strategy? Forbes Magazine gives you its take below.
I write about business and technology.
Why Invest In Bitcoin When You Could Invest In Another Currency
I’m always a little worried when the Financial Times echoes something that I am already thinking. It means that either I might have, inadvertently, had a good idea or that I am having the sort of ideas that are supported by the Financial Times.
Either way, a surprising finding. But they are indeed stating something I agree with today. That even if one buys into the ideas of the digital currency brigade why would you invest in Bitcoin, which is looking a bit toppy, rather than one of the other digital currencies?
Buying Bitcoins while their price is so bubbly is nothing more than a gamble. Investing in other online currencies, or in companies that can help the Bitcoin economy develop, looks like a sensible use of a venture capitalist’s money.
Certainly some of the VCs are moving this way. We’ve only just had the announcement that Andreessen Horowitz has invested in Coinbase:
If you’re a bitcoin doubter, you might want to turn away. The doors to venture funding in bitcoin startups are about to swing wide open.
Andreessen Horowitz has led a $25 million Series B investment in San Francisco-based Coinbase, the companies are announcing today, in what may very well be the largest-ever venture investment in a bitcoin-related company. Coinbase previously raised nearly $7 million.
As with the old stories about the gold rush. It was the people selling the spades and the food that made all the money, not the miners themselves scrabbling away in the ground.
Entire article below.