Just when you thought it was safe to own Bitcoin amid its recent calm, the cryptocurrency proceeds to plunge over 20% in what seemed like an instant.
People, especially young people like millennials, view Bitcoin and other cryptocurrencies such as Dogecoin as the new gold.
While Bitcoin and the like have been around for over a decade, it’s important to remember that gold and silver have been a proven store of wealth and a means of transaction for centuries.
The casinos are closed, and the slew of Bitcoin and Ether ETFs are a great way to spin the roulette wheel.
For people who want to preserve their wealth, though, I think it’s hard to dethrone gold and silver as an investment.
Now, I have no idea when or if crypto will go bust again, as it did back in late-2017 and early-2018.
Barrick Gold is the gold standard as far as miners are concerned.
“First Majestic aims to be the world’s purest silver producer.
Motley Fool Canada’s market-beating team has just released a brand-new FREE report revealing 5 “dirt cheap” stocks that you can buy today for under $49 a share.
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor.
I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls.