Analysts of the consulting company plan to use cryptocurrency to protect against inflation. They talked about plans to hold the asset for “many years.”
The Motley Fool consulting company announced on Twitter that it will invest $5 million in Bitcoin. According to representatives of the company, in the long term, the first cryptocurrency could go up in price 10 times from its current levels.
The Motley Fool predicts that Bitcoin’s volatility will decline in the next decade, allowing the main digital coin to become a payment instrument. The company plans to use the asset as a hedging tool to protect against inflation.
On February 18, the value of bitcoin once again renewed its all-time high, reaching $52,600. The market capitalization of the main digital coin rose to $970 billion.
“While bitcoin may continue to be volatile in the short term, we believe it has 10x the potential from today’s levels in the long term as part of a diversified portfolio. We plan to hold this bitcoin investment for years to come,” The Motley Fool said in a release.
The company said it does not intend to buy the ETH at an inflated price, but plans to buy BTC directly. Analysts at The Motley Fool have already begun recommending Bitcoin investments to their clients by including the coin in their “10x portfolio.” This portfolio contains 39 assets that could show 10x growth over the next 15 years.
According to SimilarWeb, The Motley Fool is the world’s fifth-largest site in the investment category, with 87 million monthly visitors.
Earlier MicroStrategy announced plans to increase its investment in bitcoin by $900 million.