Mark Cuban: Only invest in bitcoin if you’re prepared to lose your money

admin Bitcoin, Bitcoin News, Bitcoin Regulations, Bitcoin Startups, Bitcoin Tools, Blockchain, Digital Currencies, Ethereum, Ethereum News, Hacking, Infographics, Initial Coin Offerings, Opinion, Smart Contracts 0 Comments

© Provided by CNBC

There are some strong opinions when it comes to bitcoin, which has surged .

Quotes in the article

Some of the biggest names on Wall Street are starting to embrace the digital currency, including Fundstrat’s and value investor , who is running a fund with nearly .

One Dutch family even .

Others are not fans at all. JPMorgan Chase CEO Jamie Dimon called bitcoin a “,” adding “. It won’t end well.” Billionaire investor called it a “pyramid scheme.”

And then there’s the camp occupying the middle ground, who don’t say it’s the best investment, but also don’t say it’s the worst investment.

Replay Video

UP NEXT

1

Cancel

SETTINGS

OFF

HD

HQ

SD

LO

This 18-year-old is a millionaire thanks to bitcoin

What to watch next

UP NEXT

Billionaire seems to be among that group. As he told Vanity Fair, it’s OK to invest up to 10 percent of your savings in high risk investments, including bitcoin and ethereum. You’ve just “got to pretend you’ve already lost your money,” he said, adding that it’s like throwing “the Hail Mary.”

Tony Robbins has his own analogy for investing in bitcoin: It’s “like going to Vegas,” CNBC’s “.”

Cuban and Robbins advise only betting on what you can afford to lose. If you win, great; if you don’t, at least you only lost discretionary funds.

As for the best way to invest your money right now, go with a cheap S&P 500 SPX fund, says Cuban.

Like this story? Like CNBC Make It on Facebook!

Don’t miss: Mark Cuban: Here’s the best way to invest your money right now

Leave a Reply