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Bitcoin Was Down 16% in 30 Days. Here's Why I Bought More.


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Published in Stocks and Investing on by MSN   Print publication without navigation

Until Sunday's social-media announcement from President Donald Trump about the planned strategic cryptocurrency reserve, Bitcoin (CRYPTO: BTC) wasn't doing so well, falling by 17% in the prior month.

The article discusses the author's decision to invest more in Bitcoin despite its recent 16% drop in value over 30 days. The author highlights several reasons for this counterintuitive move: firstly, Bitcoin's volatility is well-known, and such dips are seen as buying opportunities by long-term investors. Secondly, the author believes in Bitcoin's long-term potential due to its increasing institutional adoption, with companies like Tesla and Square investing in it, and financial giants like Goldman Sachs and Morgan Stanley offering Bitcoin-related services. Additionally, the author points out the growing acceptance of Bitcoin as a hedge against inflation, especially in light of economic policies that could lead to currency devaluation. The narrative also touches on the psychological aspect of investing, where buying during downturns can be emotionally challenging but potentially rewarding. Lastly, the author mentions the upcoming Bitcoin halving event, which historically has led to price increases due to reduced supply growth, further justifying the decision to buy more Bitcoin at a lower price.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/savingandinvesting/bitcoin-was-down-16-in-30-days-here-s-why-i-bought-more/ar-AA1Ag3kN ]

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