Several years ago, when bitcoin was trading at $1,000 a friend asked if he should invest. I said it was too speculative and I'd stay away. I believe he bought one bitcoin. I don't know if he still owns it, whether he bought more or whether he sold it.

 

As of October 2, 2021 Bitcoin is trading at nearly $48,000. Today, I appear wrong to have suggested that my friend avoid bitcoin. But, I'm okay with that.

 

I have yet to buy any cryptocurrency, because I still believe it to be too speculative for me. 

 

But that doesn't mean that it's a bad investment for you. 

 

The fact that there is a limited supply of bitcoin that is permitted to be mined does make a case that as demand increases, so will the price of bitcoin. 

 

On the flip side, China has banned cryptocurrency, suggesting that digital assets might not be around, for the long term.

 

If you want to learn more about crypto investing and you're curious as to whether there is a cryptocurrency robo-advisor, then read on:

 

 

Or, if you want to invest in cryptocurrency through an app, you might consider SoFi or Robinhood. 

 

 

 

As a rule of thumb, it's recommended that you keep your speculative investing to no more than 5% of your total portfolio. That way, should the speculative investment go to zero, you'll have other investments to prop up your assets.