5 months ago we were watching Bitcoin's amazing rally and wondering how the first Bitcoin Futures would do. December 11, 2017 (click here for that post) Bitcoin was at $16,732.47 and peaked a few days later at $19,783.21. Today it sits at $7,429.87.
That kind of volatility (the 52 week range on Bitcoin spans more than $18,000!) is interesting to watch as a spectator but tough to stomach as an investor. In the last post I mentioned that the approach I was taking to getting exposure to this segment was through large cap stocks that are exposed to blockchain technology and/or cryptocurrencies. As an example of this type of stock, Microsoft has gone from $85.23 December 11, 2017 to $98.35 today.
I believe that understanding cryptocurrencies and blockchain technology will be important for all of us, regardless of whether or not we view them as potential investments. I liked this article for it's clarity on what cryptocurrencies are, what risks and benefits they pose as well as a glimpse into what the future of these coins could be.