Should You Buy Some Bitcoin Today?

Before you go, we thought you'd like these...
Before you go close icon

Bitcoins were all the rage in 2013. The virtual currency was worth about $13 per unit in January, before a media frenzy whipped up demand and drove Bitcoin values past $1,200 in November. The currency for people who don't like dollars is proving something here, inspiring JPMorgan Chase to research its own alternative to Bitcoin.

But wait a second before you load up your retirement portfolio with Bitcoins. The value of a Bitcoin turned out to be volatile in both directions. In the video below, Fool analyst Anders Bylund explains why you might want to play around with some fraction of a Bitcoin but should treat the virtual currency as a plaything and not an investment. Be careful out there.


Itching to start investing? Forget Bitcoin and jump on this superior bandwagon instead
Millions of Americans have waited on the sidelines since the market meltdown in 2008 and 2009, too scared to invest and put their money at further risk. Yet those who've stayed out of the market have missed out on huge gains and put their financial futures in jeopardy. In our brand-new special report, "Your Essential Guide to Start Investing Today," The Motley Fool's personal finance experts show you why investing is so important and what you need to do to get started. Click here to get your copy today -- it's absolutely free.

The article Should You Buy Some Bitcoin Today? originally appeared on Fool.com.

Fool contributor Anders Bylund has no position in any stocks mentioned. The Motley Fool owns shares of JPMorgan Chase. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

A Holocaust Survivor Found These Old Photographs - And Solved A Decades-Old Mystery A Holocaust Survivor Found These Old Photographs - And Solved A Decades-Old Mystery
Man Finds 5 Abandoned 'Puppies' In His Garden - Then Quickly Realizes He Made A Big Man Finds 5 Abandoned 'Puppies' In His Garden - Then Quickly Realizes He Made A Big
Don't Get Too Close To a Newborn Giraffe Unless You Want to Get Kicked in the Nuts Don't Get Too Close To a Newborn Giraffe Unless You Want to Get Kicked in the Nuts