The stock of Amazon has made many investors from the early hour to the rich.In the meantime, the title of this online retailer has even generated a return of 63,000%.In other words, those who would have invested at the beginning of 1 000 euros meanwhile have reached a considerable fortune of 630 000 euros.
The new instrument that many investors hope to achieve a similar performance is currently Bitcoin.At least one Bitcoin enthusiast has now certified cryptocurrency number one as such, which of course gives some impetus to many crypto fans.
So let’s take a look at who it was, what he said and if his comparison makes sense.Little spoiler at this point: I am still rather skeptical here.That’s why Bitcoin is walking in Amazon’s footsteps
In fact, Mark Yusko has certified Bitcoin as a great potential.Incidentally, it is the founder and chief investment officer of Morgan Creek Capital, an investment company that not only invests in more speculative assets, but also serves the big trends of HealthCare & Demographics, Energy and Natural Resources.In addition to many others, notice.
In an interview with the US broadcaster CNBC, he said that the perfect time to sell Bitcoin was never.
It therefore remains optimistic for the reserve currency, even in the current correction, although some volatility can not be denied.
Very remarkable, I found here, as I said, but the parallel with Amazon.As a result, selling Bitcoin is like Amazon (at the beginning) selling.According to Yusko, this has not yet been profitable so far, which still gives potential to cryptocurrency.Up to here the basics, with which we want to deal in the following.
There are many things to consider!
Of course, on the one hand, we can say that there has not really been a good time to sell bitcoin in recent years, because the currency has still not exceeded the current level, which is just over EUR 7,200 (27/09/2019).Highs reached by the end of 2017.At the time, a bitcoin was finally costing over 16,000 euros, which, of course, makes no sense to make a sale from a financial point of view.
At least not if you did not want to go bankrupt with loss, but that’s another matter.
On the other hand, there are other things that bother me in such a comparison or such statements.Amazon is a company that has gained value through its operational success.More and more users, a growing volume of goods, ever-newer business areas, in which the original actor of electronic commerce deliberately intervened in decisions management, resulted in higher revenues and profits.All this does not exist with Bitcoin.
Cryptocurrency is more speculation than perhaps that others will use cryptocurrency at some point.However, there is no business model or decision-based success.
A very important reason why comparability is hardly given here.
What’s left is the map
All that remains is the graph, or the corrections made by the two histories in the past.Whether it is possible or opportune with a cryptocurrency and a thriving and growing company, I dare to doubt.
As a result, I remain skeptical as to whether Bitcoin really has the realm creating potential that other people are saying about cryptocurrency.But thankfully, everyone can still make their own decisions and I urge you to pay attention.
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Vincent does not own any of the shares or cryptocurrencies mentioned.
Motley Fool does not have any of the crypto-currencies mentioned.
John Mackey, CEO of Wholefoods Market, an affiliate of Amazon, is a board member of The Motley Fool.
The Motley Fool holds inventory from Amazon.
Motley Fool Germany 2019.