22:044 Reasons to NOT Buy Bitcoin
Bitcoin is no doubt a hot commodity these days. People will jump at anything that can bring instant wealth. Unfortunately, the catastrophic collapse in May 2021 was a shocker. It sends a clear warning to be extra cautious about crypto investing.
Jerry Brito, executive director of non-profit research and advocacy group CoinCenter, said, “You shouldn’t invest in stuff you don’t understand.” The lure of earning big bucks is hard to resist. However, there are reasons not to buy Bitcoin if you can’t afford to lose your money.
1. Price volatility
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3. Security concerns
Some investors misplace their security codes saved on smartphones or written on paper. Because blockchain technology is a secure system, it’s highly improbable and impossible to recover your investment once you lose your private key.
4. No investor protection
Aside from halting mining operations, China has banned financial institutions from providing crypto-related services. The crackdown by governments is likely to bring down Bitcoin’s price some more.
Top mining stock
Besides the 117.65% year-to-date gain, Capstone’s trailing one-year price return is 572.73%. Had you invested $5,000 on year-end 2020, your money would be worth $10,882.35 today. Market analysts forecast the price to climb 49%, from $5.18 to $7.74, in the next 12 months.
The $2.12 billion company has operating mines in Arizona, Chile, and Mexico. Capstone’s most recent quarterly results were its strongest ever since commencing operations 15 years ago. In Q1 2021 (quarter ended March 31, 2021), operating cash flow reached $95 million — a new record.
Along with the propensity to generate strong operating cash flow, Capstone maintains a robust balance sheet. Moreover, the company is debt-free and well positioned to advance multiple high-return projects.
Wait for regulations
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