Unless you’ve been sleeping under a rock chances are you have heard about bitcoin. Over the last few months it has become the hottest story on just about every news channel.
Since January of 2017 the price of bitcoin has jumped from $900 all the way up to $16,000. Because of these huge gains more and more investors are jumping on the bitcoin bandwagon.
What Is Bitcoin?
The interesting thing about bitcoin is no one really knows what it is. At its very core it is nothing more than a decentralized currency often referred to as cryptocurrency.
Some of the “coins” are issued by companies while others are “minted” by anonymous sources. This is the case with bitcoin.
Theoretically cryptocurrencies can be used to make purchases. The problem is very few businesses are willing to accept them. Bitcoin however is the exception as big companies such as Expedia and Overstock are now using them as a form of payment.
One of the many reasons people love crytpocurrencies is because they aren’t government controlled. They also aren’t connected to the stock market in anyway.
Of course if there is money to be made the government will at some point attempt to step in and regulate it. But right now that isn’t the case and millionaires are literally being made overnight by investing in bitcoin.
About The Oxford Club
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The club offers all members access to an investment-focused publication that shares timely ideas designed to help them get the most out of every investment. The clubs unique approach to investing has been responsible for their success throughout the years.
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