The Motley Fool

Bitcoin’s tipped to barge through $15,000! Is it the key to retirement riches?

The content of this article was relevant at the time of publishing. Circumstances change continuously and caution should therefore be exercised when relying upon any content contained within this article.

Image source: Getty Images

So Bitcoin’s back on the charge, then. After enduring a rocky ride in July, the world’s foremost cryptocurrency’s crawling slowly skywards again, moving from around $10,000 at the start of the month through $12,000 at one point. It’s settled lower but is threatening to burst higher again at any point.

The virtual asset has risen again in August following China’s decision to devalue the yuan, a move that’s prompted market makers en masse to pile into non-fiat currencies like precious metals and the likes of Bitcoin. And many people are expecting safe-haven demand for these assets to keep ballooning.

5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!

According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…

And if you click here we’ll show you something that could be key to unlocking 5G’s full potential...

Nigel Green, chief executive of financial consultancy group devere Group, for one predicts: “With the Trump administration now officially labelling China a currency manipulator… investors are set to continue to pile in to decentralised, non-sovereign, secure currencies such as Bitcoin to protect them.”

Is $15,000 set to fall?

Currency devaluation is not the only reason to expect Bitcoin to keep rising either, Green says, with geopolitical issues like US-Chinese trade wars and Brexit also set to keep flight-to-safety buying on the boil.  As a consequence, he expects Bitcoin to surge through the $15,000 marker “within weeks.”

Is it time to slip in and grab a slice of the action? Not in my eyes. Green may believe Bitcoin could eventually usurp gold as “the ultimate safe-haven asset,” but that’s one hell of a bold claim to make today.

Scepticism over the legitimacy of the digital asset class remains quite high — investment guru Warren Buffet claimed earlier this year it has “no unique value at all” – and so buying crypto in the hope of making big returns is a mighty risk to take.

You’re better off with stocks

There are much better ways to try and make big riches for retirement, in my opinion, through financial instruments that have been tried and tested for centuries. I’ve recently explained how getting exposure to gold is a good idea, for example and, in particular, through investment in one of London’s dividend-paying precious metals miners such as Centamin or Polymetal International.

The yellow metal recently smashed through the $1,500 per ounce barrier for the first time since 2011, and the prospect of a significant slowdown in global economic growth, in combination with the likelihood of more central bank rate cuts and monetary stimulus, will in all probability keep metal prices rising for some time yet.

Tapping into gold and gold stocks isn’t just a good bet for the here and now, though. Financial market volatility, in response to major macroeconomic and geopolitical trends and events, should always be expected. And so getting access to proven safe-havens like precious metals is an essential way to protect your investment portfolio and therefore your ability to retire in luxury.

“This Stock Could Be Like Buying Amazon in 1997”

I'm sure you'll agree that's quite the statement from Motley Fool Co-Founder Tom Gardner.

But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.

What's more, we firmly believe there's still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.

And right now, we're giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool.

Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge!

Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Our 6 'Best Buys Now' Shares

Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.

So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we're offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our 'no quibbles' 30-day subscription fee refund guarantee.

Simply click below to discover how you can take advantage of this.