Bitcoin ETFs

Bitcoin Goes Mainstream

I’ve changed my script for this week’s blog and video. And this week’s talk will be very short, but it does contain some very interesting news which may have passed you by while you were getting bogged down in the latest Ukraine saga.

How much longer it takes to get the Americans out of Europe is another matter, but we cant go back to any semblance of normality until that happens.

President Macron’s overture to the BRICS is interesting, but I cant see those nations wanting him around while he is still a supporter of NATO. If it at least allows some sort of dialog to be exchanged that would be a start, but it is certainly a long shot.

But to cut to a totally different topic, those of you who have been following me over the years, (and I am amazed at how many of you have been subscribers to my blogs and property service for a couple of decades or more) will probably remember me briefly running a magazine called The Big Pension, where, towards the end of that magazine’s lifetime, I suggested that the ideal answer to all your pension requirements was an investment in Bitcoin. At the time I made that suggestion (way back in 2015) bitcoin was trading at $282. In other words you could have bought four bitcoin for £1000.

I later decided to stop producing the magazine because I said that each following issue would only contain one recommendation: “Buy bitcoin”. At the time I said that bitcoin had raced up to $800. I hassled everyone I knew to buy, buy, buy. Only my daughter, that I know of, did so, and bought less than I suggested.

Let me remind you of the maths.

If in 2015 you had taken my advice and only put a modest £5,000 into bitcoin at the then price, you would now be sitting on 20 bitcoin, which is now worth £544,000. That would do for all your pension needs, wouldn’t it? You could borrow against that, or stake the bitcoin, and get a very comfortable income from the staked amount while still holding the bitcoin itself to gain further increases in the price, and further staking possibilities.

I even suggested I put £5,000 into bitcoin back in 2017 for my second sort-of daughter to pay for her £180,000 mortgage due ten years later. She turned down the offer. That £5,000 would then have only bought 1.25 bitcoin, but would now have a valuation of £34,000.

Okay, so what is the current situation with regard to these new entities?

Last week, BlackRock, the world’s largest asset manager with $10 trillion under management, filed an application for a bitcoin exchange-traded fund (ETF).

Hot on its heels, global investment firms Invesco and WisdomTree also filed separately for their own bitcoin ETFs.

This means that bitcoin has now gone mainstream, and its price is likely to suffer fewer mega pull-backs, and since it is now possible for anyone to put pension funds into the crypto it is bound to start a steady rise from here. It will also mean the whole crypto market will gradually become mainstream too.

If you missed my first announcement, or even the second and dont have that nice little nest-egg, here’s your third chance. You wont make anywhere near the percentage gains that I made, but your gains will still be pretty impressive.

I’m not sure there’s much more for me to say this week, but it certainly makes a change to be able to pass on some good news.

Thank you for reading/watching. See you next week. Let’s hope we have some more good news.