Writer JP Koning on why bitcoin is more lottery than investment

Credit: SpiffyJ/DigitalVision Vectors/Getty

No one invests in the lottery; they play it. Rather than investing in bitcoin, let’s play bitcoin.

On December 8, 2017, just a few days after bitcoin crossed the $10,000 mark for the first time, Coinbase CEO Brian Armstrong published a blog post asking customers to “invest responsibly.” A week after Armstrong’s appeal, the price of bitcoin hit $19,801, paused, and then proceeded on what has been nerve-wracking decline ever since.

In hindsight, Armstrong’s “invest responsibly” post seems timely. Any novice would have saved themselves much money and stress if they’d taken his advice to be careful and had either…

JP Koning

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