It was one year ago that I invested my yearly SEP contribution into bitcoins.
Actually, it was into something called the Bitcoin Investment Trust, which at the time was the only investment vehicle that I could find after researching options for investing qualified retirement funds into bitcoin. At the time bitcoin was trading in the $500 to $600 range.
Six months ago, I wrote about losing half of my investment in the Trust and received much “love” from those who had sympathy for me (actually I’m still looking for those comments but I’m sure that someone out there does care). I also was very clear at the time that there was no need to worry that I’d be “dumpster diving” for my next meal because I was doing what every investor needs to do — proper asset allocation. Meanwhile bitcoin was trading in the $400 to $300 range, and no one likes losing money.
My investment in the Trust and bitcoin is a small portion of my investment portfolio and considered as part of the alternative investment class of my overall investment portfolio. Some of you have gold, oil wells or real estate in that category. I prefer things less tangible (I read a lot of science fiction growing up).
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