Bitcoin's dizzying price movements make it a risky investment, say investing experts: 'It's pure, unadulterated speculation'

  • 📰 CNBC
  • ⏱ Reading Time:
  • 31 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 72%

Bitcoin/USD Coin Metrics News

Personal Finance

Bitcoin's rollercoaster price movements are a reminder why it shouldn't be a big part of your investment strategy, financial planners say.

. It has since bounced back somewhat, hovering near $57,000 as of Thursday morning, but that's still down from a $71,000 peak in June.serve as a stark reminder of how erratic the cryptocurrency can be and why financial planners often consider it a discretionary investment.

So, should it be part of your overall investment strategy? Financial planners differ in their opinions on if or how to incorporate it into your portfolio, but tend to agree it's a risky bet that shouldn't be the basis for your retirement savings.Despite the risks involved, some financial planners see value in purchasing bitcoin as a speculative asset, but only with money you'd be comfortable losing.

That said, a small allocation to crypto — about 1% to 2% of your portfolio — can be considered "if you have a strong interest and understand the risks," he says.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in PH

Philippines Philippines Latest News, Philippines Philippines Headlines