Recently, The Wall Street Journal ran a story by Gregory Zuckerman and Vicky Ge Huang. They are telling us that "The Hottest Business Strategy This Summer Is Buying Crypto."
I have a thought: Don't!
I haven't tallied up the number of times that I have inveighed against "crypto" in my daily blog postings. Here is a link to a sampler of my warnings against "investing" in something that has no genuine "investment" value. Where "crypto" is concerned, the word "investing" should be translated as "speculating," or "betting." The future value of an "investment" in cryptocurrency, in all its forms (the most recent form is "tokens"), is determined by what other people are willing to pay for it in the future. Maybe, people will be willing to pay more tomorrow than they would have had to pay today.
Maybe not, too!
If you want to "bet," step right up! Just don't fool yourself into thinking that what you are doing is making an "investment" decision.
Image Credit:
https://www.wsj.com/finance/currencies/crypto-treasury-e7ae573c
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