Forget the Bitcoin price! Here’s how I’d invest £10k to make a million

By November 8, 2020Bitcoin Business
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Diagonal chain made of zeros and ones. Cryptocurrency and mining.

The Bitcoin price has been on a tear this year. The value of the cryptocurrency has nearly doubled since the beginning of 2020. Some analysts believe this could be just the start of a long run higher for the asset.

However, despite this performance, I’d rather invest my hard-earned money in stocks and shares. I think I stand a much higher chance of being able to make a million using this approach than owning the Bitcoin price.

The road to a million

Bitcoin has proved all of its doubters wrong over the past few years. When it first burst onto the scene towards the end of 2017, many high-profile financial figures labelled the cryptocurrency nothing more than a fad.

These projections have not aged well. In fact, one could argue that Bitcoin has proven itself in 2020. The asset has been a great hedge against uncertainty this year and has achieved one of the best performances of any financial asset as a result.

Despite this performance, I’m not convinced the Bitcoin price is a good investment. That said, I’m not entirely against owning it in a portfolio. Some investors may feel comfortable owning the crypto asset, but it may be sensible to limit exposure to a relatively small percentage of assets. This could limit potential losses if it turns out to be a poor decision.

An alternative to the Bitcoin price

Instead of Bitcoin, I’d buy stocks and shares to make a million. Some shares have actually outperformed Bitcoin over the past 12 months. Growth and technology stocks have performed exceptionally well in the coronavirus crisis, as customers have signed up in droves.

For example, technology giants PayPal, Apple, Microsoft and Amazon.com, are all leaders in their respective fields. I’d much rather own these stocks in a portfolio than cryptocurrency.

Owning stocks and shares comes with many more security benefits than Bitcoin. Investors are protected up to a certain level if a stockbroker collapses, and it’s very difficult for criminals to steal investments owned in your name.

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