Bitcoin (BTC) has produced phenomenal returns most years, but when it comes to maximizing them, it’s best just to buy and hodl.
That was the conclusion from new data circulating on social media this week, which casts serious doubt on the merits of following investment advice from mainstream media.
Don’t believe the hype?
Under the microscope was CNBC, which in 2017 offered viewers an investment portfolio made up of 30% Bitcoin and 70% altcoins.
Four years later, those who invested $10,000 at the time now have around $52,300. Had they just bought and hodled Bitcoin, however, they would have over $140,000.
“The 30% #BTC allocation is responsible for 75% of the return,” Twitter account StatsBTC, which uploaded the numbers, noted in comments.
CNBC’s portfolio came courtesy of well-known pundit Brian Kelly, months before it hit then all-time highs of $20,000. Altcoins also saw peaks, months later in early 2018, with most only to crash and never recover.
Subsequently, the network gained an unenviable reputation for acting as a buy signal for investors — ironically by telling them not to invest in Bitcoin. The same fate has since befallen theTitle: Oops! A 100% Bitcoin hodl outperformed CNBC’s 2017 altcoin basket by 170%
Sourced From: cointelegraph.com/news/oops-a-100-bitcoin-hodl-outperformed-cnbc-s-2017-altcoin-basket-by-170
Published Date: Tue, 30 Mar 2021 17:00:00 +0100