The investment advisory company has made its first investment in cryptocurrencies.
Bitcoin Endorses The Motley Fool
The Motley Fool plans to add Bitcoin to its own balance sheet for $5 million; it also plans to keep the acquisition for several years.
Separate from its own investment, through its 10X real-money portfolio, the company will also sell Bitcoin to investors. The decision would add Bitcoin to a list of 39 stocks that the company expects in the next 15 years will deliver ten-fold returns.
For his Bitcoin investment, The Motley Fool gave typical reasons. Bitcoin claims it can store value more efficiently than gold. It also assumes that as rates stabilize, Bitcoin will be beneficial for purchases, and that Bitcoin will serve as a protection against inflation.
The company noted that in the near future, Bitcoin will possibly see price fluctuations, but it expects that investors will nonetheless see significant returns. It also noted that there are overpriced Bitcoin investment funds, explaining its decision to purchase Bitcoin itself.
Bitcoin Companies Invest In
In operation since 1993, The Motley Fool is one of the most well-known financial advice companies. Today’s news makes it one of the first companies in that category to make a Bitcoin investment.
However, The Motley Fool is not the first firm to make such an investment. The news comes a week after Tesla announced a $1.5 billion Bitcoin investment, and one day after Microstrategy announced a $690 million addition to its $1 billion BTC supply.
According to BitcoinTreasuries.org, at least 38 corporations hold a total of $66.5 billion worth of Bitcoin, equivalent to 1.3 million BTC or about 6.04% of the total Bitcoin supply.