Why Does EVERYONE Want to Buy Bitcoin?

“Should I buy bitcoin?”I hear that question a lot.My mom and her friends want in. So do my friends. Even my 11-year-old son.None of them know what bitcoin is. But that doesn’t matter to them.I think it should. So, whenever they ask me, I answer their question with a question…“Should you buy something you don’t understand?”This can prompt snarky responses. One friend countered that she doesn’t know how electricity works, but she still buys it every month.She thought she had me. But she didn’t…

Do You Know What You’re Paying For?

When my friend pays her electricity bill, she understands what she’s buying.She doesn’t really want “electricity.” She wants to stream Netflix. She wants air conditioning to run. And she wants her Google Nest mini to turn the lights on.That’s what she’s paying for.So, I followed up with another question.“If you pay for bitcoin, what do you want from it?”I already knew her answer…Like everyone else, she wants to get rich.That’s all anyone honestly wants from bitcoin. And that’s why big financial companies are rushing to cash in.Fidelity Investments now lets companies add bitcoin to 401(k)s. Employees can invest up to 20% of their account in bitcoin.Fidelity holds $11.3 trillion for investors. It charges small employers an annual fee equal to about 1% of assets in the plan. Larger employers may pay about 0.5% every year.Adding bitcoin is a smart business decision for Fidelity. It helps keeps funds at the firm. And by limiting the allocation to 20%, they ensure that fee income won’t be hurt too much if bitcoin crashes.Robo advisor Betterment also offers crypto access. The company manages less than $27 billion, and mainly targets millennials and younger investors. This demographic wants crypto. So, the firm offers it — and charges an annual fee to hold it.Now, just because brokers offer something doesn’t mean it’s a good deal for you.Brokers offer many products investors don’t understand, like annuities that pay a 10% sales commission. In fact, they count on investors buying these products so they can make money.But Mike Carr has found a way to profit from bitcoin that cuts out the middleman.And we can all understand exactly what he’s doing — even my snarkiest friends…

Would You Rather Be Up 48% on Bitcoin, or Down 37%

Mike trades options on the ProShares Bitcoin Strategy ETF (BITO).This is an ETF that tracks the price of bitcoin. You trade it in a standard brokerage account. That means commissions are low, like they are for any ETF.But this ETF is different. It’s the first and only optionable bitcoin ETF on the market. Now, Fidelity and other brokers with passive investment products don’t allow you to benefit from sell-offs in bitcoin. And that’s too bad…Because if you follow the market, you know there are some big declines. Bitcoin’s down 50% this year alone.That’s why BITO is such a game-changer.With options, you can benefit from the ups AND downs in bitcoin.Over the past three months, Mike’s strategy has gained 48% while bitcoin is down 37% in the same timeframe…And just last week, he made a 2-day 100% gain off a measly 10% rally in bitcoin.So, to my mom, friends, son, and all of you reading this, let me just say…If you want to get rich on bitcoin, THIS is the way to do it.