If you have been keeping up with the media and influencers recently, then you probably have seen the hype around cryptocurrency. As society progresses and more things move online, cryptocurrency has been one of the largest stock options that people have been investing in.
Now you may be wondering how did this all start? As reported on MSNBC after Tesla revealed in a meeting that they had invested $1.5 billion worth into bitcoin, the price skyrocketed to $44,000 a share which was a record high. This then gave the cryptocurrency some media coverage, and everyone wanted to join the frenzy to get in on the newest trend.
Chamath Palihapitiya the founder of Social capital stated that “it’s probably going to 100,000 then 150,000 then 200,000, I don’t know when maybe five to ten years.”
These statements have made many influencers interested in cryptocurrency and people like Chantel Jeffries frequently claim to be investors and in the know, advising their followers to invest in bitcoin.
So, is it worth it for college students like us to invest? Well, investor Mark Cuban says that bitcoin is like gambling, and you should only invest the amount you can afford to lose.
“You have to be mentally prepared and financially prepared; the crash could happen again tomorrow,” Cuban said.
Despite bitcoin’s high price, you can buy fractions of shares for as little as $5, and that is a place to start. Investing in stocks early is one of the easiest ways to stockpile money at a young age.
It is never too early to invest in stocks and as my dad would say, “have your money work for you.” So if you are interested I recommend doing some more research on cryptocurrency and setting up a portfolio. You can learn more at https://bitcoin.org/en/.