A couple of people asked me this week if they should be investing in Bitcoin. I didn’t quite know what to say but I get why they’re asking. The price of a Bitcoin jumped from $1000 to $17,000 this year. It was up almost 20% last week alone. (I wrote that a couple of days ago, and today it’s almost $19,000.) If you Google Bitcoin you’ll see a ton of links celebrating its arrival as a serious investment, telling you how to make millions on it, imploring you to shift your IRA to Bitcoin, etc.
The short safe answer to the question is, if you have to ask someone like me, then don’t do it unless it’s a pure lark—a trip to Vegas. The long explanation is below. Meanwhile, for God’s sake, don’t bet the retirement account.
Time and Material 