Moose Lake Star Gazette - Serving Carlton and Pine Counties Since 1895

By Wick Fisher
Moose Lake Star-Gazette 

Bitcoin

Wick's World

 


Was this the moment Bitcoin made us millionaires? The moment being last Sunday at six. For the past half-century, our household had generally reserved this time slot to watch the weekly news show, “60 Minutes.” The latest show featured Anderson Cooper who was about to reveal to the nation, the secret behind Bitcoin. The only secret I cared to know was this: when will Bitcoin make me a millionaire, or more specifically, when will it be worth enough that we can buy an ocean-view property in San Diego?

The answer, my friends, is it is coming soon. Seeing how we will be San Diego-bound in a few short months, I say the sooner the better. Oh, it’s coming all right. Ever since I found out my wife first bought into a few Bitcoins many years ago, I was pleased at her insight of getting in “at the right price.” Often, that is the main factor in determining which investments will pay off best for you. Buy early, buy often; but only the right stocks.

Here are our right stocks that have the potential to reap big rewards for us; they are also called risky investments. Bitcoin, Tesla, and Aurora Cannabis (a Canadian marijuana company).

Bitcoin failed to soar to new heights following the Anderson Cooper explanation of just what Bitcoin is all about. One sound bite was not going to do that. Rather, Bitcoin will, once again, slowly begin its surge to the top of alternate currencies that just indeed may be the future of banking. Cooper concentrated his Bitcoin story on the poor sap who made the first Bitcoin trade in the world. And by anyone’s standards, it was a bad trade. $800 million worth of today’s Bitcoin got the guy a couple of pizzas. The most telling part of the interview came when even the steady Anderson Cooper managed to toss out the one question this interview did not need.

“Do you ever think about how you could have been worth $800 million?” Cooper asked.

The reply, “I don’t think it’s good for me to go there.”

Journalism at its finest.

I still have all the faith in the world that a small, one-time investment in Bitcoin holds the key to a California dream house. The same could possibly be said for Tesla, if only their CEO would stop micro-managing. More likely, it is my wife’s investment in legal marijuana that stands a good chance of being the most solid investment in our portfolio.

I must say she did her homework. Aurora Cannabis made two early moves that set it apart from other medical and recreational marijuana companies in Canada. First, they went “all in” buying up as many smaller companies as possible. Second, they secured the contract for all of the medical marijuana to be sold by the European Union. Those two factors have made Aurora Cannabis the likely industry leader far into the future.

Generally, I avoid giving out financial advice to others. It’s too often a losing proposition. But I will give it anyway. Avoid Tesla. You either sign on for the whole deal and place your bets on an eccentric futurist, or stay out of it entirely. We are in it for the ride.

As far as investing in the Canadian pot market, I say go for it. They are any number of companies, small and large, that will most likely show a nice return on investment. They are still reasonably priced and have, for the most part, nowhere to go but up. Don’t hesitate to buy.

As for Bitcoin, in my humble opinion, it is still way undervalued. Fortunes are still to be made. I have enough to make my dream come true, do you?

 

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