A Better Investment Than Bitcoin
21 January 2018
Even if you were living under a very large rock, you couldn’t have avoided the crypto currency hype, particularly around Bitcoin.
From enthusiastic ‘experts’ to grim naysayers, it was perhaps the most hotly debated and discussed topic towards the end of last year (maybe just behind the US election!). Over 100,000 people were joining Bitcoin every day at its peak, and a lot of late-joiners regret not getting on to the bandwagon sooner.
It made sense. Bitcoin made hundreds of people millionaires – and even made some billionaires! It took almost zero effort and no planning, yet the results were fascinating. $5000 turning into $1m in a few months – that’s enough to tempt someone to borrow money to be able to invest in Bitcoin.
For all the gains it has brought, though, Bitcoin is a questionable area to put money into today. There is no clear path forward, no one can predict if it will continue to rise, and it’s expensive to get in to now. As far as investments go, there isn’t a new one yet that can top crypto currencies. But there is another investment, one that has been around for a while, that – in the long run – can outperform Bitcoin any day of the week. It’s cheaper, takes effort and planning, but delivers consistently better results. It’s been validated by the man who has taken the investment world by storm, and his advice has created billions of dollars in returns.
Warren Buffet: “The best investment you will ever make is in yourself.”
Among others, here are three reasons why you are the best investment you can make:
Firstly: A real investment is something that has intrinsic value, not just what value the market puts on it. Buying stock in a reliable company is a real investment, because that will continue to deliver results for their stakeholders. Crypto currency have no intrinsic value, not yet at least. You already have intrinsic value, but the cream is in what you bring to the table. The sum total of your knowledge, your experiences, your mental and physical abilities, your social skills, your reputation and authority…that is what makes you so valuable. None of the above is determined by the market, it is all in your control.
Secondly: All ‘hot’ opportunities eventually go cold and are replaced by other, equally ‘hot’ opportunities. You won’t. Not as long as you continue to invest time and effort in bettering yourself. There are hundreds of stories of people who changed careers 180 degrees, and continued to deliver outstanding results in their new fields. Bitcoin will eventually fade away; ask any experienced investor what the ‘hot’ things were over the last 40 – or even 20! – years. If you continue to work on yourself, you will become more valuable with age. 40 years of experience is something no amount of money can buy. Beware though: don’t end up with 40 1-year experiences…that will be a disappointment.
Lastly: While crypto doesn’t have much practical use, you aren’t limited. If it came to application, you’d beat any amount of crypto hands-down. You can apply yourself to any number of situations, and – with little effort – maximize results, regardless of circumstance. If the market suddenly decided that Bitcoin had no value, it’s end of the road for Bitcoin. Conversely, if your industry were to suddenly be made redundant – through Artificial Intelligence, for example – , you can re-apply yourself in two dozen different industries. Not without effort, true; but by continuing to invest in yourself, you become so much more than just a job.
Terry Crews – the tough, funny, football-player-turned-actor is a talented artist, and made his way through college by painting portraits of football players. Snoop Dogg is a certified football coach, and Harrison Ford has rescued stranded hikers thanks to his ability to fly helicopters and planes. You are not defined by your role, your title, or your industry. You are unique, special, and worth investing time and effort in. If you choose to not invest your time and effort in you, you will – by default – spend it on someone or something else. Be intentional about your choices – they will define your future worth – and net worth.
PS. As a business leader, your learning and decisions are constantly impacting not just yourself, but your entire organisation. If you want to see which areas of your organisation can be improved, and how you can raise the bar for your company as a whole, click here to learn more about our upcoming Six Steps to a Winning Business workshop.