If you’ve caught more than four seconds’ worth of financial media in the last 12 months, you’ve undoubtedly heard the “Bitcoin” mentioned at least a few times. Bitcoin and other cryptocurrencies are receiving intense media coverage after skyrocketing in value in 2017.
So what should you make of it all? Does bitcoin, ethereum, or another digital currency deserve a place in your portfolio? First, let’s remember what bitcoins actually are. Bitcoins, like all other digital currencies, are simply strings of computer code. There’s no paper money or metal coins involved. There’s no central bank issuing the currency, nor a regulator or nation that stands behind it.