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The Ups, Downs and God-Only-Knows of Bitcoin

The Ups, Downs and God-Only-Knows of Bitcoin

In the words of Amir Blumenfeld from CollegeHumor: “Holy guac! These bitcoin things are a dinky-donkey. I gotta have one… b-b-b-b-b-b-baaaad!”

Even if you live in a cave, you must surely have heard of bitcoin, the cryptocurrency and worldwide payment system that’s been around since 2009. For a while it just quietly did its thing, sitting in the corner and not ruffling any feathers. That was until early 2014, when one bitcoin suddenly leapt in value from under $100 to over $1,000. From 2014 to 2016 it went through various peaks and troughs, although at its lowest it was still worth $200, and then 2017 saw the bitcoin boom that continues to be the hot topic on Wall Street, Forbes and Reddit alike.

At the time of writing this article, one bitcoin is worth over $10,000, meaning that if someone bought 100 coins in January 2010 for a total of four dollars (back when it was four cents a coin), they’ll now have a cool million to cash in. As for those who decided to withdraw before the spike… well… hopefully they enjoyed a few drinks or a cheeky takeaway with their earnings.

However, whilst $10k per coin sounds mighty fine, just a couple of months beforehand it had rocketed to $20k. This means that if someone bought in late 2017, their investment in early 2018 is worth just 50% of their initial outlay. Unless there’s another surge that surpasses bitcoin’s previous high, that’s hardly a shrewd investment. You might as well burn your money in the backyard.

Add to this many household brands no longer accepting the currency, some countries such as China and South Korea denying its usage, the high risk of cyberattacks to trading volumes, and bitcoin’s real value being dependent on its blockchain, which could plummet if it doesn’t attract the attention of large enterprises, and suddenly there’s an awful lot at stake.

Oh, and then there’s Ethereum, Ripple and numerous other crytocurrencies giving bitcoin a run for its intangible money, so you really need to know a lot about market trading and be prepared for failure if you’re considering investing.

Meanwhile, in Hull’s vibrant Fruit Market, Prople is offering shares in beautifully designed, fully serviced apartments for just £2,000 each. You can purchase anywhere between one and five shares, with a guaranteed ROI of 8% per year. So if you take out a single share you’ll gain £160 in interest, and if you take out five you’ll enjoy £800 per year. You won’t become a millionaire, granted, but you will earn plenty of moolah over the years without the need for a doctorate in Economics and a subscription to the Financial Times.

If you’d like to get involved you really need to take action now, as we’re limiting shares to just 700 in total and many people are taking out five each. To grab a slice of this not-so-humble pie, contact our friendly team on 01482 215990 or email hello@proplecrowd.com. And before you ask, sorry, we don’t accept bitcoin.

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