The Motley Fool Makes $5 Million Bitcoin Investment
The investment advice firm has made its first cryptocurrency investment.
- Investment advice firm Motley Fool has bought $5 million of BTC.
- It will also add Bitcoin to its 10X investment portfolio.
- Other firms such as Tesla and Microstrategy have recently made multi-million dollar Bitcoin investments as well.
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Investment advice firm The Motley Fool has invested $5 million in Bitcoin, according to an announcement from the company.
The Motley Fool Endorses Bitcoin
The Motley Fool plans to add $5 million of Bitcoin to its own balance sheet; it also plans to hold the purchase for many years.
Separate from its own investment, the firm will additionally offer Bitcoin to investors through its 10X real-money portfolio. That decision will add Bitcoin to a list of 39 stocks that the firm believes will produce ten-fold returns over the next 15 years.
The Motley Fool gave standard reasons for its Bitcoin investment. It believes that Bitcoin can store value more effectively than gold. It also believes Bitcoin will be useful for transactions as prices stabilize, and that Bitcoin can serve as a hedge against inflation.
The firm noted that Bitcoin will likely see price volatility in the immediate future, but it believes that investors will see significant returns nonetheless. It also noted that Bitcoin investment funds are overpriced, justifying its decision to buy Bitcoin itself.
Corporations Invest In Bitcoin
In operation since 1993, The Motley Fool is one of the most well-known financial advice companies. Today’s news makes it one of the first companies in that category to make a Bitcoin investment.
However, The Motley Fool is not the first firm to make such an investment. The news comes a week after Tesla announced a $1.5 billion Bitcoin investment, and one day after Microstrategy announced a $690 million addition to its $1 billion BTC supply.
According to BitcoinTreasuries.org, at least 38 corporations hold a total of $66.5 billion worth of Bitcoin, equivalent to 1.3 million BTC or about 6.04% of the total Bitcoin supply.