Cryptocurrencies have a lot of benefits for those interesting in digitizing money. As of right now, there are no government controls on Bitcoin which make it a little like precious metals as not having central banks regulating its interest rate, and there are also easy ways to convert it back to regular currency. Investment expert Paul Mampilly did a piece on Bitcoin recently noting how its stocks shot up in early 2017. Mampilly admitted even he had missed out on the opportunity to inform his readers of this stock and might have encouraged them to buy it when it was low, but now he says they should stay away from it.
— Paul Mampilly (@Paul_M_Guru) January 4, 2018
Paul Mampilly says that Bitcoin is like all other stocks that start out small, but if they become really popular and see their prices overshoot where their highs should be, they’re likely to form bubbles. He said this is what happened back in the years from 2000 to 2002 during the dot-com bubble. Obviously, the internet did become the future of business, but investors were buying into it a little too soon and expecting dot-com companies would yield profits before they were ready to. As a result, a bubble was formed and eventually crashed. Mampilly says the same thing is happening with Bitcoin and though some rebounds are expected, Bitcoin stocks in general are on a decline. He told his followers they should consider investing in a different digital currency that is already out there, and he shares that with his subscribers at his Profits Unlimited newsletter.
Paul Mampilly is a graduate of Montclair State University and was in banking with ING, Deutsche Bank, Sears, Banker’s Trust and Royal Bank of Scotland. He also was a portfolio advisor for Kinetics International Fund for several years during which he grew the company’s assets under management by $19 billion. He also helped clients make investments that yielded up to 43% in returns, making Kinetics International Fund one of the featured hedge funds of Barron’s magazine. Mampilly also was the winner of the Templeton Foundation competition of 2008 for making a $50 million investment that gained 76% during the highest point of the recession. He is also credited with picking Facebook and Netflix stocks prior to their reaching popularity, and even today he still shares his personal portfolio with newsletter subscribers. What has made Paul Mampilly popular is not only his market knowledge, but also his ability to make investing easy for others to understand.
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