MyMoney Online, The Personal Finance series with Warren Ingram

Missed out on Bitcoin? Read this if you're wondering if it’s too late now

On 17 March 2010, the now-defunct BitcoinMarket.com exchange – the first one ever - started operating.

Back then, one Bitcoin cost $0.003.

If you had invested $1000 (R7287) then, you would have received 333 333 coins.

Today, that would equate to $2.7 billion (R34 billion)!

Many people who feel enormous regret are now investing in Bitcoin for fear of missing out.

Some are borrowing money to do this.

Imagine investing in December last year on borrowed money – you would be more than 50% down!

Early investors would not have held their investment to now; when your R7300 is worth R647 million five years later, you would have been selling!

Especially when you can lose 70% in a few months!

Investing with regret is a terrible way to start your investment portfolio.

You’re always playing catch up with a fiction – other people didn’t actually make all this money!

You need time and patience and you should be investing in businesses that have an understandable set of drivers – what really drives Bitcoin?

Amazon is a great example of excellent growth, driven by factors that are understood.

At listing in 1997 a share cost $18 dollars.

Today it’s worth $1585.

That is an 88-times increase in 21 years.

The Money Show’s Bruce Whitfield interviewed Galileo Capital Personal Financial Advisor Warren Ingram.

For more detail than this article provides; listen to the interview in the audio below.

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our mailing list

* indicates required

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
Pieter-Dirk Uys gets serious about money (‘Evita is my pension!’)

Pieter-Dirk Uys gets serious about money (‘Evita is my pension!’)

The Money Show’s Bruce Whitfield interviews Uys about his attitude toward money (hopes and fears, successes and failures, etc.).

 ‘Port Harcourt is the capital of oil and gas in Nigeria’

‘Port Harcourt is the capital of oil and gas in Nigeria’

Bruce Whitfield interviews Lee Kasumba, who is on a fact-finding mission in Port Harcourt in Nigeria’s oil-rich Rivers State.

Land expropriation can succeed if no productive land is taken – Land Bank

Land expropriation can succeed if no productive land is taken – Land Bank

The process must also be corruption free, the bank said. Bruce Whitfield interviews Land Bank CEO TP Nchocho.

Each year rich countries waste as much food as sub-Saharan Africa produces

Each year rich countries waste as much food as sub-Saharan Africa produces

We waste a third of all food produced. If we avoid 25% of that wastage, it could feed 870 million hungry mouths.

Venezuela inflation rate expected to top 1 000 000% by year-end

Venezuela inflation rate expected to top 1 000 000% by year-end

Venezuela – once as rich as Norway – is suffering an apocalyptic collapse without precedent.

4 tips for safely investing right now when everything is so hectic

4 tips for safely investing right now when everything is so hectic

Bruce Whitfield asks Personal Financial Advisor Warren Ingram for advice on how investors can safely navigate this hectic time.

Popular articles
Stealthing: a form of rape, says Dr Tlaleng

Stealthing: a form of rape, says Dr Tlaleng

'Stealthing' is the act of discreetly removing the condom without the knowledge or consent of the other party during sex.

Afroworld View employees left jobless, as DStv shuts it down

Afroworld View employees left jobless, as DStv shuts it down

CWU says 350 workers from Afroworld View will be paid at the end of the month even though the channel has closed.

[LISTEN] Solly Msimanga: Expropriate land at market related prices

[LISTEN] Solly Msimanga: Expropriate land at market related prices

Executive Mayor of the City of Tshwane Solly Msimanga shares his vision for Gauteng as the candidate for Premier in 2019.

We need to guard our independence - Kganyago

We need to guard our independence - Kganyago

Reserve Bank Governor, Lesetja Kganyago responds to an EFF bill proposing nationalisation of the central bank

[WATCH] Guy gives girlfriend the hood from his jacket but keeps coat for himself

[WATCH] Guy gives girlfriend the hood from his jacket but keeps coat for himself

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.

Two young boys go the extra mile to get a sick dog to a vet with just R7

Two young boys go the extra mile to get a sick dog to a vet with just R7

Peter and Jerry gave up their last R7 to get a sick community dog (Lady) to an Animal Welfare shelter for medical attention.