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)? Is it safe to assume the only direction(barring a few dips here and there) bitcoin will eventually go from here is up? Do you foresee it going below $10K, or even $9K ever again? Is it even possible to see the lows we saw a few months ago(ie $3500) ever again?
Please give me your thoughts. IRA or Bitcoin for the long term?
If you dont like to be blamed out then its better for you to teach them about the risk first before talking about earning money with bitcoin.
Its never been a reliable and stable investment since this is an unpredictable thing.If they cant handle out the risk then this place isnt for them and
better to stick out with those investments that they do know but well, when it comes to return then its totally different.