Retirees: Bitcoin Is Not Gold, Do Not Bet the Portfolio

Bitcoin (CRYPTO: BTC) is building a reputation as the digital equivalent of gold. U.S. Treasury Secretary Scott Bessent has said, "Gold is a store of value, Bitcoin is becoming a store of value." Like gold, Bitcoin is considered an excellent long-term store of value. It's scarce, relatively secure, and its value increases over time. All good things.In fact, its performance is so good, it's been called the better store of value. There's some truth to that. If you'd invested $1 into Bitcoin five years ago, you'd have approximately $9.50 as of writing. Bought gold instead? You'd have roughly $2. Compared to gold, Bitcoin has made like a balloon and flown sky-high. But it would be a big blunder to mistake Bitcoin for a better gold. Stability matters. Right now, Bitcoin is to gold as dynamite is to a rock: volatile. Retirees, in particular, should be cautious about betting the portfolio. An unlucky downswing could blow up your entire retirement plan.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool