Motley Fool to buy $5 million of Bitcoin—but it missed on a potential for $2.5 billion

The wildly popular investment and analysis magazine announced the move yesterday, years after calling Bitcoin a “terrible investment.”

The Fool buys Bitcoin

“We’re buying $5 million in Bitcoin on our own balance sheet. That’s right. $5 million,” reads a release by investment and analysis company Motley Fool. And in case you wonder what is that—it one of the world’s most popular newsletters on equities and emerging market opportunities.

Motley Fool has historically shunned Bitcoin. In 2013, it said that the asset was potentially a “terrible investment,” giving over ten reasons at the time. But the tables have turned.

The firm’s investment narrative is similar to the one stated by MicroStrategy, Tesla, Paul Tudor Jones, and others—it’s led by a search for store-of-value more effective than gold over the long term,  a potential medium for transactions (as/if pricing stabilizes in the decade ahead), and as a productive “hedge against inflation.”

It added that its investment—and further recommendation to potential investors—was part of the ambitious “10x portfolio,” one included 39 other stocks with the potential to return over ten times of the initial investment over the next 10-15 years.

“We think Bitcoin can play a role within a diversified portfolio built with a focus on the long term,” the firm said.

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