In the aftermath of the stock market crash, many investors turned their back on traditional equities in favour of investments such as Bitcoin. Though a risky asset itself, Bitcoin is attractive to many investors for its supposed explosive upside potential. However, regardless of the cryptocurrency’s prospects, I’m confident that investing regularly in a diverse selection of the best UK shares is a superior and safer way to build wealth over the long term. Here’s why.
The problem with investing in Bitcoin
My main issue with Bitcoin, is that there’s no way to determine its fundamental value. The same applies to other cryptocurrencies. In other words, sheer investor speculation drives the price one way or the other. This partly explains Bitcoin’s wild price fluctuations, which can regularly result in the currency’s valuation rising or falling substantially in a just a matter of days.
The future utility of Bitcoin is another … Read more