WILMINGTON, NC (WWAY) — Bitcoin has been around for more than ten years. But cryptocurrencies first became a household word in 2017 when Bitcoin values rose from a few hundred dollars to nearly twenty thousand dollars a coin.
Since then, values have gone up and down. But they have risen to another all-time high in recent months.
“We’re seeing maybe another boom and bust cycle, where there’s just so much interest in cryptocurrencies,” crypto miner Will Lewis said.
Lewis feels higher prices are tempting more people to invest. But if you’re thinking about investing, Lewis believes there’s a certain way to go about it.
“If you wanna invest one thousand dollars in BITCOIN, don’t do it all at once,” Lewis advises. “Maybe spend one hundred dollars a month until you invest your full thousand. So you’ll get your amount of Bitcoin at different prices, and hopefully that’s going up. But if it were to go down, you have a lower cost basis that you’re adding to.”
Even with the unpredictability that comes with investing in cryptocurrencies, Lewis still thinks crypto investing is a good option.
“It should be on your radar, as far as putting it into your investment portfolio. Just because I don’t think it’s going away anytime soon. I think it should be on everybody’s radar to hold some in their portfolio for the long term.”
Bitcoin is a digital currency that is not ties to a bank or government and allows users to spend money anonymously. It has not performed as well as more traditional forms of investing, like stocks or bonds. No investment is a guarantee. You should never invest money you aren’t willing to lose.