If you were one of the investors sitting on the sidelines as Bitcoin prices skyrocketed 1,364% in 2017, then you weren’t alone.
Only 7.95% of American adults have purchased a crypto coin, according to Finder.com.
That’s no surprise.
Investors are weary of jumping into a new frontier of technology after getting burned in the tech crash of 2000. And it’s true: Cryptocurrency investments share a lot of similarities with tech stocks in the 1990s.
But that’s a good thing for you.
Today, we’ll show you how savvy investors got – and stayed – rich during the tech boom and how you can follow the same path with cryptocurrencies.
You see, everyone realized the incredible commercial potential of the Internet back in the 1990s. The Nasdaq surged 530% between 1995 and 2000, as investors piled money into Internet stocks.
The hype wouldn’t last, as only a few companies proved they could profitably harness the Internet’s potential.
The Nasdaq eventually crashed, plummeting 75% starting in early 2000. Internet companies were hit hard, as 3,892 were acquired at discounts, and another 962 were outright shuttered, according to Webmergers Inc.
Investors piled into the hottest new innovation and ended up getting burned. That’s the cautionary tale you’ve heard about the tech bubble time and time again.
But it’s not the whole story.