The Motley Fool announced on February 17th, 2021 that they would be allocating $5 million of their own cash to Bitcoin (BTC).
This investment is part of a campaign they are calling “10X” – which involves finding investment opportunities that they think will increase ten times in value over the next five years or so.
The announcement states that “Bitcoin will be a core holding in our 10X portfolio”. And specifies that they will be buying directly into Bitcoin (no ETFs) with the reasons why they bought BTC outlined in the tweet below.
Controversy
This decision to invest in BTC however, has been highly controversial on Twitter with people are referring to an article they published back in 2013 where Sean Williams (a Fool since 2010) explains 10 reasons why Bitcoin is a terrible investment. It seems the article has been updated since with the new date showing as 2020.
Funnily enough, if they would have invested the $5 million when the article was written back in 2013, it would now be worth an estimated $2.5 billion dollars.
More Big Companies are Now Buying Bitcoin
Major companies are now starting to add Bitcoin to their balance sheets as the stimulus flooding continues and companies see Bitcoin as a hedge against inflation. The list of big companies publicly holding Bitcoin is growing which includes the likes of MicroStrategy, Paypal, Square, Tesla, Morgan Stanley, Greyscale, CoinShares, and now The Motley Fool. Who’s next?
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