Email of the day on investing in bitcoin
Comment of the Day

March 21 2023

Commentary by Eoin Treacy

Email of the day on investing in bitcoin

Good morning, Eoin I hope you and yours are well. I am considering baby steps into Bitcoin ownership. I would welcome any guidance you may have. Particularly, where best to purchase and how to hold/protect. Many thanks for the excellent ongoing guidance.

Eoin Treacy's view

Thank you for this question which may be of interest. At present, the safest way to hold bitcoin is in a cold storage wallet. Then you must ensure that it is kept somewhere safe. The second best option is a fund like the Grayscale Bitcoin Trust which has done a reasonable job of tracking the price. The last would be to buy bitcoin miners which offer leverage to the price

The price has broken higher on the promise that fresh liquidity is about to be made available. We are also a little more than a year out from the next halvening so this is a cyclically favourable time to own the asset. 

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