There’s a recent mania taking over the investing world, and it’s called cryptocurrency. Since the domain name Bitcoin.com was registered in 2008, the world has seen Bitcoin (CRYPTO:BTC) rise and fall, hitting just under $50,000 per token on Feb. 15, 2021.
While many people are bullish on Bitcoin’s prospects, many others feel it’s just too risky for an average investor to hold in their portfolio. Which side are you on? We asked three Motley Fool contributors whether they’re planning to add it to their portfolios, and why or why not.
The best cryptocurrency to buy
Jon Quast: When building a portfolio, investors should be more focused on stocks than cryptocurrencies. Stocks represent ownership stakes in real companies with intrinsic value. By contrast, cryptocurrencies are just zeros and ones — they don’t own anything, generate revenue, or have visions for creating shareholder value. Some do have practical utility, which is great. But lack of intrinsic value makes cryptocurrencies risky investments; it’s a key difference between them and stocks.
That said, I would invest in a cryptocurrency, but Bitcoin is the only one I’d buy