Financial advisory and investment giant, The Motley Fool, has announced it will invest $5 million in Bitcoin (BTC) with expectation of significant returns later.
The company announced today via a blog and Twitter post that it would not buy expensive ETFs but buy bitcoin outright. According to SimilarWeb, The Motley Fool is currently ranked fifth worldwide in the investment category, with 87 million website visits per month. It cited three main reasons for buying: Bitcoin is a better asset than gold, an effective hedge against inflation, and can become a transactional object.
Bitcoin in its 10X Real-money Portfolio
The company will invest in Bitcoin through 10x its real-money portfolio as one in 40 assets that will generate a 1000% return over the next 15 years. The company recommends digital assets as the main stock for all 10X members and gives them time to buy BTC before Motley Fool launches its buyout.
The company notes that Bitcoin is likely to see price volatility soon, but they expect investors to get a significant return. He also stated that Bitcoin mutual funds are overvalued, which justified its decision to buy Bitcoin himself.
So far, Motley Fool has identified 10 out of 40 investment proposals for the 10X portfolio, the rest being cloud computing company Appian Corporation, cybersecurity firm CrowdStrike, Pinterest social media platform, mobile gaming platform Skillz, and Zoom among others. You should note that many of these stocks are already recommended in other, more basic companies’ investment services.
Corporations Invested in Bitcoin
The Motley Fool is not the first company to make such an investment. The news comes a week after Tesla announced a $1.5 billion investment in Bitcoin, and a day after Microstrategy increased $1 billion in BTC by $690 million.
Grayscale has the most extensive Bitcoin portfolio of all institutional investment platforms, with over $30 billion in BTC, currently managed by the Grayscale Bitcoin Trust trading under GBTC. Grayscale recently announced its plans to launch new crypto products and Chainlink is on the list.
The crypto-focused commercial bank Galaxy Digital Holdings owns 16,402 BTC worth a little over $770 million at current prices. The company works with crypto companies, including Block.one and BlockFi. Novogratz is surprisingly an avid defender of bitcoin. While the future of Bitcoin is still a hot topic, institutions now believe that not holding Bitcoin is riskier than owning the crypto despite previous beliefs. According to BitcoinTreasuries.org, at least 38 companies have a total of $66.5 billion worth of Bitcoin, the equivalent of 1.3 million BTC, roughly 6.04% of the total Bitcoin supply.
