The Motley Fool set to dive into crypto with a £3.5M BTC investment
- The firm added BTC to its 10X real-money platform, predicting BTC’s value will increase tenfold.
- The Motley Fool believes BTC is an effective option to store money as compared to gold.
- According to the firm, BTC could also be a suitable medium for transactions after stabilising.
The Motley Fool, an Alexandria-based private financial and investment advisory company, has hopped on the crypto bandwagon. The firm unveiled this news through a tweet and a blog post on February 17, noting that it had introduced Bitcoin (BTC) to its 10X real-money portfolio. Apart from this, the company announced that it would purchase £3.59 million worth of BTC and add this investment to its balance sheet.
Explaining the decision to dip its toes in crypto, the firm noted that it believes BTC would store money more effectively in the long-term as compared to gold. BTC would become a suitable medium for transactions when its price stabilises over this decade. Apart from this, the company noted that BTC can serve as a productive hedge against inflation.
BTC could surge past £359,000
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
Giving a bullish BTC price prediction, the company said that the current price swings in BTC’s price do not concern it. BTC could soar to unprecedented heights over the next 10 to 15 years. To this end, it plans to hold its BTC investment for many years to come. However, The Motley Fool noted that it is currently giving all members in its 10X service a chance to buy the leading cryptocurrency before it makes its £3.59 million purchase.
Touting BTC’s potential, The Motley Fool said,
In our 10X real-money portfolio, we are recommending and buying Bitcoin. It will be a core holding in our 10X portfolio. There are 39 other stocks we believe are on a path that could potentially lead to 10x returns at some point over the next 15 years. We believe Bitcoin could deliver those returns as well.
Should the company’s prediction come true, BTC will trade above £359,000 in the next 15 years. At the time of writing, BTC is changing hands at £37,134. This figure denotes a 0.33 gain over the past 24 hours and a 14.51% increase over the last seven days.
This news comes as more mainstream companies continue supporting BTC. In the past week, Tesla announced a £1.08 billion investment in BTC. Mastercard also disclosed that it is working on integrating some cryptocurrencies into its network before the end of the year. On top of this, Twitter mentioned that it is exploring adopting BTC as a payment option for its employees.