- Bitcoin was on top form in 2024, hitting all-time highs and rising above $100,000.
- The price doesn’t deter some investors. In fact, now could be a good time to buy.
- Here are four ways to add Bitcoin to your portfolio.
If you stick to some of the many cautionary investing adages – like “Buy low, sell high” or Warren Buffett’s “Be fearful when others are greedy” – it can be difficult to argue that Bitcoin is a good buy right now.
The days when Bitcoin was traded for fractions of a cent are long gone. The price of the cryptocurrency is anything but low, at least compared to what it was, especially after a 55% increase to over $108,000 following Donald Trump’s re-election.
However, some market experts have the opposite philosophy when it comes to Bitcoin, believing that it is a good time to buy thanks to favorable fundamental trends.
“We believe it is precisely in the period leading up to large-scale adoption that the greatest future return potential may lie,” Samara Cohen, chief investment officer of ETFs and index investing at BlackRock, wrote in a recent note on Bitcoin.
Robert Cannon, financial advisor at Experity Wealth, shares this view. “We’re basically just getting started, even though $100,000 seems like a big number,” he told BI. He recommends investors invest around 1 to 10% of their portfolio in cryptocurrencies, depending on their risk tolerance.
Cannon has seen indications that other governments, such as Argentina, may adopt Bitcoin as a strategic reserve, which could drive the price of the cryptocurrency even higher.
“They want to get there before the big money is there,” Cannon said. In other words, don’t stay loyal to the Bitcoin rally just because…
