Bitcoin Will Make Many More Millionaires Before Diving
Bitcoin has been flying high lately, making many investors overnight millionaires—investors who poured money into the digital currency when it was trading at a tiny fraction of its current price. And it will make more millionaires, as it could reach for new highs before coming back down to earth.
Fund | 12-month performance |
SPDR Gold Shares (GLD) | 12% |
Bitcoin Investment Trust Shares (GBTC) | 800% |
Source: Finance.yahoo.com 6/6/2017
There are a few good reasons for Bitcoin to do so. First of all, there’s the ultra-low interest rate environment, which makes the Bitcoin “carry trade,” an appealing proposition.