4 Reasons Why A Smart Bitcoin Investment Makes Sense for Your Child’s Future
Cryptocurrencies are no longer on the fringe of finance, and some parents are exploring them as an investment to build their children’s future nest egg.
A recent survey found that nearly half (45%) of US parents who own cryptocurrency are already investing it in their children’s future, with 40.6% more planning to join soon.
CouponBirds surveyed 1,046 parents in the US between January and March this year, exploring their views on investing in crypto for their children.
The top reason for these parents to buy crypto for their kids was the potential for future growth. However, education and currency debasement were also found to be significant motivations.
A majority said they approach these investments on a “set it and forget it” basis, intending to leave it untouched until their children are ready to take control.
Danny Baer, a wealth director at Bitcoin life insurer Meanwhile, suggested that instead of viewing Bitcoin as a quick way to make money, it’s wiser to consider it a long-term investment.
He explained that from a historical perspective, each Bitcoin price dip has been higher than the previous cycle’s peak. This suggests the asset has been on a 15-year bull run.
The long-term potential of cryptocurrencies like Bitcoin is a topic of debate. While some believe they could become mainstream, there’s no guarantee. However, due to the market’s volatility, experts generally recommend crypto as a long-term investment, ideally held for at least a decade.
Identity.com executive director Phillip Shoemaker said the key to investing in Bitcoin is to make frequent, smaller purchases. You buy it, store it safely in a hardware wallet, and then hold onto it for the long term.
“You do this with assets like Bitcoin, however, not the more
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