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| cnbc.com |
70NEWSJAPAN - As of Thursday, bitcoin's value was just above $16,500, according to CoinDesk. Based on that value, one bitcoin would be worth a little over $16,500 and 1.6 bitcoins would be worth more than $26,400 today. This estimate does not include any additional fees or transactional costs.
That's a tremendous profit in just a few years.
If you were smart, or lucky, enough to invest even earlier, in 2010, you could be in the company of the Winklevoss twins, who are reported to be the first bitcoin billionaires.
Read - 7 Best Bitcoin Success Stories
As bitcoin has gone more mainstream, some of the biggest names in finance are weighing in. Fundstrat's Tom Lee and value investor Bill Miller have embraced the trend.
But even with many success stories surrounding bitcoin investments, seasoned investors are voicing caution. Billionaire entrepreneur Mark Cuban and "Oracle of Omaha" Warren Buffett warn of bitcoin's volatility. Legendary investor and index fund mogul Jack Bogle, at a recent Council on Foreign Relations event, told the audience, "Avoid bitcoin like the plague."
Read - Why bitcoin's success could be its downfall
"Bitcoin has no underlying rate of return," the Vanguard founder said. "You know bonds have an interest coupon, stocks have earnings and dividends, [and] gold has nothing. There is nothing to support bitcoin," he said, "except the hope that you will sell it to someone for more than you paid for it."
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