Speculative Madness or Smart Play: Does Bitcoin Belong in Wealth Planning?
Bitcoin has been on a tear lately, up nearly tenfold since the beginning of 2016, when a single “coin” could be had for just over $400. By mid-September 2016, Bitcoins were trading well north of $4000 — and investor interest has become feverish as returns dwarf all other assets. Even a rumored move by China to shut down all three of its Bitcoin exchanges could only dent Bitcoin’s rise, chopping prices from a high of nearly $4700 per Bitcoin to just over $4000. Investors who missed the steep climb — most of them, in what is still a very new, untested asset — are on the phone asking financial advisors how they can get into this hot new vehicle.