by It’s a question I get time and time again, do you invest in Bitcoin?
It started in part because of the groundswell around Bitcoin in 2017 when a single bitcoin was worth $25,000. This absurdly quick upwards trajectory didn’t continue and the bubble popped.
Since then it seems to be the subject of choice for online scammers to associate my name as an investment expert with anything related to bitcoin. I urge you to be incredibly wary of these scams as they’re often quite well disguised. So that begs the question…
Does David Koch invest in bitcoin?
No I don’t and for a number of reasons, the unpredictability of them plays a key part. These unregulated currencies are often invested into off the back of unsubstantiated hype and as a result their prices rise and fall erratically.
Bitcoin is a type of cryptocurrency that are held in digital wallets, their value is determined by supply and demand. There are a number of other cryptocurrencies available however none of these have received quite the media exposure as Bitcoin.
The Bitcoins are then traded on markets using “blockchain” technology. This is simply a decentralized network of computers around the world which monitor and record all transactions.
As an investor, I generally look for start-ups and alternative investments and remain open minded about new trends. Their erratic behaviour has continued since the bubble burst in late 2017 and I still would urge anyone considering investing to only invest what they’re prepared to lose.
Who runs Bitcoin?
Bitcoin was launched by Satoshi Nakamoto in 2008 and Satoshi decided that only 21 million units would ever be created. This name has often be rumoured to be an alias for a number of other people that could have been responsible for creating Bitcoin.
Bitcoin doesn’t operate with a single administrator or a bank. It was originally used as the currency of choice on the dark web, a site called Silk Road transacted hundreds of millions using Bitcoin.
Should you invest in Bitcoin?
Bitcoin is an incredibly speculative investment and I’d strongly urge you to invest carefully. I have no association with Bitcoin and would urge everyone to be careful of any scams that may be circulating inboxes and social media associating my name with Bitcoin. My online investment course will help you make informed decisions when investing.