Motley Fool Not So Foolish Anymore – Invests In Bitcoin
Financial investment advisory firm Motley Fool has announced that it will be investing $5 million of its balance sheet and buying Bitcoin (BTC).
As well as this, Motley Fool also announced to its clients that Bitcoin will be added to its Discovery 10X Campaign, a portfolio focused on finding investment opportunities with potential to increase 10x in value within the next 5 to 15 years.
The news comes as somewhat of a surprise after the investment advisors warned its clients to stay away from Bitcoin, calling it a ‘horrible investment idea’ back in 2013.
Leading Investment Advisors Buying And Recommending Bitcoin
The investment advisory platform wrote to its clients earlier today that Bitcoin will be a core holding on its balance sheet and in the Discovery 10X Campaign portfolio along with 39 other assets.
With over 87 million visits a month, Motley Fool is the fifth ranked global investment platform, according to SimilarWeb, and the investment advisory firm outlined three key reasons for investing in Bitcoin.
In the announcement late yesterday, Motley Fool said they believe Bitcoin ‘will store value more effectively than gold over the long term,’ and that it may ‘become a medium for transactions,’ and that it ‘can act as a productive hedge against inflation.’
Motley Fool also say they ‘are recommending and buying Bitcoin’ as core holding in the portfolio, and clearly state that they will be ‘buying Bitcon directly’ and not any ‘overpriced ETF’ (Clearly not aware there isn’t a Bitcoin ETF as yet).
‘In our 10X real-money portfolio, we are recommending and buying Bitcoin,’ says Motley Fool. ‘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… We aren’t buying overpriced ETFs as our route into Bitcoin. We are buying Bitcoin directly.’
Motley Fool did warn its investors of potential volatility, but said it was planning a long term hold, which it believes ‘has 10x potential from today’s levels.’
Should Fool’s prediction come true, we will see a Bitcoin price in excess of $500k sometime before the decade is out, a figure some Bitcoiners might think a little bearish. But Motley Fool have to put a realistic spin to its traditional investor clients.
Motley Fool’s About Turn Completed
Motley Fool converting $5 million of its balance sheet, while also advising its millions of clients to invest in Bitcoin is still relatively early.
If Bitcoin is to appreciate how many are suggesting, it could turn out to be one of Motley Fool’s best, if not the best recommendations in its long life of investment advice.
But Motley Fool hasn’t always been pro-Bitcoin. Back in 2013, the investment advisory firm published an article warning its clients of risks of a bubble.
Why Bitcoin Is A Horrible Investment Idea was published back in 2013, and in it the experienced investment advisors warned of Bitcoin’s fantastic 1200% rise from $20 to $240.
In the article Motley Fool compared Bitcoin with gold, and used a famous Warren Buffet derisive parable of gold, saying other than it being nice and shiny it was ‘incapable of producing anything,’
Motley Fool basically told its investors Bitcoin was of the same mould, but warned they wouldn’t even be able to touch it, and recommended staying away.
For the record, If Motely Fool hadn’t been so foolish and invested $5 million in Bitcoin back then it would now be worth around $2.5 billion. How’s that for investment advice, Motely Fool?
But you can’t blame them for warning its clients of an unknown asset back then, and to be fair, they are still just about early movers.
A Bitcoiner since 2017 and a Bitcoin Maximalist since 2018, Tommy is our main writer and editor at Bitcoin Maximalist. Other than researching and writing about Bitcoin, Tommy loves spending time with his family and supporting his beloved Leeds United.