Champagne corks are popping. Bitcoin millionaires are making merry as the rest of the world watches with an I wish I did’ expression. At the point of writing this, the value of one bitcoin is now a whopping $16,857.34. That is extraordinary, considering that this figure was just about $ 1000 at the start of the year. It is evident today that investment is not only a science but an art.
Trust me, many number-crunchers and Wall Street geniuses are not on in this newfound Bitcoin wealth. To understand the art behind financial success, who better to talk to than someone who works with artists? I caught up with Tony Fountain the founder of the successful NOWentertainment, and an exciting conversation transpired.
Me: You have seen the magical Bitcoins, as an investor what is your opinion?
Tony: It’s incredible to see that young people are making big on a platform that was once dismissed to be street and thuggish. I mean, every financial guru was screaming don’t touch’ when this cryptocurrency rolled out in 2009. Look where it is now. Bitcoin has left many feeling like educated fools. Perhaps the society needed such an awakening. Investment is not always about the numbers; it is about sentiments, about trends in culture, and following your instinct.
Me: Do you not care about volatility?
Tony: Undeniably, the cryptocurrency is unstable, but every investment has its risks. The same is the case with stocks and bonds. The most successful entrepreneurs are risk takers. Nevertheless, you need to be prudent, don’t put all your money in one place. That is what I have learned in my years of experience in this industry. Without determination and wit, I would still be wallowing in poverty in the sleepy town from where I came.
Me: What is your secret to success with investments?
Tony: Once I see an opportunity worth the dime I don’t hesitate to jump on it. That doesn’t mean that everything is always a bed of roses. There are some anxious moments. However, you need to ride the financial wave for long till you reach the topmost peak. That is what blue chip millionaires do. Take the case of bitcoin, for instance, in January it was valued at $800. In June it had jumped to $3,000, in July it was less than $2,000, then it picked up again. Those that cashed out early are now the biggest losers. Invest and sit still. That is my advice.
Me: Did you learn the art of investment when you were young? Tony: I came from a poor neighborhood, but it is the sound mentorship of my first boss that got me where I am today. The society today is all about spending and flossing, and many young people waste their futures that way. This calls for parents to teach their children to save and to make wise financial decisions. Let your child start investing at a tender age so that when they mature they will have something built up. A solid ground to stand on.
While it might be too late to invest in Bitcoins right now, there are other cryptocurrencies, stocks, and bonds with enormous potential. I will take the sound advice from Tony and invest in some of them. Next time instead of writing, I will be popping champagne bottles in a grand house in the Hamptons.