I am now an investor in cryptocurrency!
Ok, so that’s probably putting it a bit strongly. My younger son really wanted to buy some Dogecoin, so we finally relented and let him spend some of his Christmas money on cypto.
I decided for fun that I would match him in a different currency so we can have a mini competition.
He’s old enough to understand the risk associated – that he may lose all the money, is likely to get back less than he invested, and may not be able to sell it back to pounds when he wants to. Nevertheless he’s seem the 500% growth curve for Doge this year and wants in!
It’s as much about entertainment as anything else – the total amount we’ve spent between us is less than a computer game would cost, and I’m optimistic that they will be worth at least something in a few years time.
So, he has Dogecoin, I have Ether, and I also bought some Sui to make it a 3 horse race. 24 hours in, they are all still worth about what we paid after fees (ETH slightly up, DOGE and SUI slightly down).
Speaking of investment I also bought a modest number of Raspberry Pi shares at the IPO earlier this year. After the initial spike these settled down, but just before Christmas made a huge leap and have stayed up (+133%). I won’t lie and say I’m not tempted to sell, but I bought them to invest in a company I want to back, and plan to keep hold of them long term. It’s essentially part of my pension plan, but nice to see growth.