Hi guys. I have a friend who's parents are looking for alternatives and want to invest money into something other than their IRA account. They have a fixed IRA with about $100K, but they are unsatisfied with the miserable amount of interest they're getting. I mentioned to them that bitcoin is a possible alternative and one they can look into. Do you agree? Do you guys consider bitcoin a reliable and stable investment for long term holding(5-10yrs)?
i would say the prospects are good. personally, i'm betting the price will be much higher in 5-10 years.
nothing is set in stone though. it would surprise me a lot, but bitcoin
could still return to a bear market from here to sub-$3k levels. the odds are low considering the momentum and gains of this rally, but it's possible. keep that in mind when investing with retirement money. usually people put those funds into very conservative investments, not assets that could possible halve in value over the next month.