That amazing rise shows the power of our tech-centric economy.
Today, I want to talk to you about an investment that's quickly giving Amazon a run for its money… in a fraction of the time.
It's not a stock, but it is an investment I personally recommended.
Almost no one on Wall Street or in the financial press believed in the cryptocurrency Bitcoin back in 2013. At the time, Bitcoin was the subject of a steady stream of negative stories.
Almost of all of it had one basic – yet incorrect – premise: that Bitcoin was a passing fad that was bound to hurt investors.
But had you bought Bitcoin back when I first talked about it, holding through its many ups and downs, you could have made peak gains of 2,850% in just four-and-a-half years.
That's why I'm so excited to tell you about this new breakout technology…
Bitcoin Alternative Mirrors Historic Surges
Trading currencies is quite different from tech stocks.
But even with my longtime focus on Silicon Valley as a tech analyst and insider, this other area is by no means an odd fit.
You see, in college I earned an honors economics degree. In fact, I wrote my honors essay about monetary economics under the guidance of a senior official with the Federal Reserve.
I went on to become a senior analyst with the trade journal American Banker, the "bible of banking." I also wrote a book on the nation's savings and loan crisis.
In short, following money comes naturally to me. And when I first heard about Bitcoin, it quickly grabbed my attention.
This new digital form of money combined my deep expertise in both money and technology… so I jumped on board with a huge passion.
The 2013 Bitcoin Play
When I first started talking about Bitcoin back in early 2013, it was trading for just $100. Yes, after peaking at nearly $1,200 at the end of that year, Bitcoin plummeted on a sell-off.
I've lost count of how many Bitcoin "obituaries" I've read, but it's in the hundreds. But that was one of those moments – perhaps the last one – when those early naysayers looked like they could have been correct.
All along the way, however, I kept telling investors to keep the faith because Bitcoin was set to become key technology that would spread far beyond early traders.
And that's just how things have played out…
Bitcoin recently peaked at around $2,950. Had you gotten in when I first started talking about this new digital money, you'd have made roughly 2,850% in about four-and-a-half years.
Even if you had bought back at the previous high and watched it crash, you still would have made peak profits of 152%.
The reason has to do with why I got involved in the first place. Bitcoin isn't just a digital form of money. It's also great technology. And it's all because of the platform that supports it – the blockchain.
The Blockchain Is Gaining Ground
See, the blockchain is like the "grids" that allow you to make credit card purchases, transfer money between banks, or buy stocks through online brokerages.
But the blockchain has a huge advantage. It's a peer-to-peer system in which one computer "talks" to another. In other words, no central bank or government gets between the traders.
This decentralized aspect of the blockchain makes it ripe for a wide range of industries all over the world.
And that why major banks, investment firms, and big tech leaders are now making daily use of Bitcoin. It's among the reasons for Bitcoin's huge rebound and unlimited future.
If you missed Bitcoin's huge run, don't worry. I believe that what I call the "new Bitcoin" has emerged. And it may have even more of an upside.
About the Author
Michael A. Robinson is one of the top financial analysts working today. His book "Overdrawn: The Bailout of American Savings" was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. He's a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style. His 30-year track record as a leading tech analyst has garnered him rave reviews, too. Today he is the editor of the monthly tech investing newsletter Nova-X Report as well as Radical Technology Profits, where he covers truly radical technologies – ones that have the power to sweep across the globe and change the very fabric of our lives – and profit opportunities they give rise to. He also explores "what's next" in the tech investing world at Strategic Tech Investor.