For more than a century, the stock market has proved time and again that it’s one of the greatest wealth creators on this planet. If you buy stakes in great businesses and allow your investment thesis to play out over time, history suggests you have a very good chance to build wealth.
But in recent years, investors have chosen to be mesmerized instead by the jaw-dropping returns of cryptocurrencies. For instance, a little over a decade ago, a single Bitcoin (CRYPTO:BTC) could have been purchased for around $1. As recently as this year, that same token was going for nearly $65,000.
While it’s not uncommon for retail investors to chase momentum plays, I believe they’re mistaken to do so — especially with cryptocurrencies. That’s because I’m a card-carrying crypto skeptic.
The cryptocurrency space looks like a gigantic bubble
Why no love for digital currencies? One of the bigger issues is their lack of real-world adoption and utility. Bitcoin, the world’s largest digital currency, has only been able to handle around 300,000 transactions on a daily basis for years. Comparatively, the people’s currency,