Evaluating Cryptocurrencies as an Investment

John Rekenthaler går gjennom kryptovaluta og hvordan man bør se på kryptovaluta som en investering.

John Rekenthaler, CFA 12.03.2019 | 10:19

Straight Man


Back in the day, one Soviet woman saw another standing in a long line, snaked across two blocks. "Come, I saved you a spot," said the second. "What's in the store?" asked the first. "I don't know, but everybody seems to want it, so it must be worth the wait," responded the woman in line.

For the same reason have speculators purchased cryptocurrency. Bitcoin became desirable because people wished to buy it, and even more desirable when its price soared. The popular basis for owning cryptocurrency has been, quite simply, because today's quotes will be higher tomorrow.

This column will attempt something different by assessing cryptocurrency's role in a conventional long-term portfolio. In addition to the centerpiece assets of stocks and bonds, investors increasingly hold alternatives, either with the hopes of boosting returns or protecting against risk. (The greedy seek both.) What place, if any, should cryptocurrency have in the "explore" portion of a portfolio?

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Om forfatteren

John Rekenthaler, CFA  John Rekenthaler is Vice President of Research for Morningstar.

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