My Biggest Investment Regret
It's a decision that still haunts me to this day, almost exactly four years later.
In fact, these days, it seems to haunt me more and more with each passing hour.
You see, back in October 2013, I was doing a bit of contract work for a small newsletter company trying to get off the ground.
It was run by a somewhat eccentric rich guy, a man who did things like fly private jet planes (he had two) or race motor yachts (he owned his own shipyard) for fun; a self-made man who had gotten rich young and proceeded to take a permanent vacation from reality.
My business relationship with his company was pretty straightforward. I would write one article a week, and they would pay me a flat monthly fee.
The thing is, with the guy behind the scenes insisting on a cloak-and-dagger approach in every aspect of his business, nothing that was simple on the surface ever turned out to be that way.
So when he proposed to pay me the contracted fee in what was then a fairly newfangled kind of currency, I immediately scoffed at the idea.
When it came to getting paid, I was the opposite of adventurous. I wanted to be compensated on time, in cash, like every other guy in the world.
Fortune Favors the Bold. Seriously.
Not gold, silver, or saffron, for that matter, but good, old-fashioned greenbacks delivered via good, old-fashioned wire transfer.
It was the worst financial decision of my life.
And while it was completely reasonable at the time and would probably be the decision 99% of people in my position would have made, it doesn't change the fact that I'd screwed up royally.
You see, the man responsible for paying me had wanted to use Bitcoin, which back then was already five years old but still fairly limited in terms of demand.
I even remember where Bitcoin was trading at the time the offer was made: $132.00.
I'd been watching the price charts for a while, however, and had seen the fluctuations in value that this mysterious new form of currency was going through.
It was worth one thing today but could be worth something totally different tomorrow. It could even happen overnight, while I was asleep.
Moreover, I had no real understanding of why Bitcoin was even a big deal. Just another fad, I thought to myself.
I insisted that he keep his electronic wallets and his bitcoins and pay me in dollars instead, and in the end, that's what I got.
Hindsight Is 20/20...
Skip forward four years, and every day when I switch on the computer and check to see where Bitcoin trades, I kick myself just a little bit harder.
With more than 70,000 businesses worldwide now accepting Bitcoin, demand is through the roof... and so is the valuation.
If I'd just taken the bet and accepted payment in Bitcoin, today the fees from that six-month contract would be worth more than $1.6 million.
It may shock you to read that. Believe me, it stings just as much to write it.
Today, Bitcoin trades at about $5,500 — or about 42 times what it was back in the fall of 2013...
Making it easily the worst decision of my financial career, even though at the time, it made all the sense in the world.
And, unlike everyone else lamenting how rich they could be had they just bought a couple hundred bucks' worth of the stuff back when it was valued in the single dollars, I actually had this opportunity in the palm of my hand... and turned it down.
An investor, even a seasoned one, can go insane thinking about would-be home runs.
If only I'd waited. If only I'd acted... If only, if only, if only.
The difference between a real investor and somebody doomed to failure is that real investors learn from their mistakes and apply those lessons in future decisions.
Join Wealth Daily today for FREE. We''ll keep you on top of all the hottest investment ideas before they hit Wall Street. Become a member today, and get our latest free report: "A Beginners Guide to Bitcoin"
After getting your report, you'll begin receiving the Wealth Daily e-Letter, delivered to your inbox daily.
Bitcoin 2.0: The Second Wave
So while it's very tempting and very easy to sit back and fantasize about long-closed windows of opportunity, I dedicate most of my brain's processing power to looking for new ones.
It's really the only way to kill off those deadly patterns of post-event rumination.
About three months ago, my lament regarding Bitcoin finally expired.
And it expired because I realized that the real opportunities presented by the cryptocurrency revolution are still in the future.
Since Bitcoin's advent in 2008, more than 800 other electronic currencies have entered the market — most of them operating off the same blockchain design as the engine of Bitcoin itself.
The difference is that unlike Bitcoin, which now carries a market capitalization of more than $90 billion, some of these newer, more revolutionary cryptocurrencies are trading at just pennies, with total market capitalizations hundreds or even thousands of times smaller than Bitcoin.
As a specialist in early-stage companies, I instantly recognized the upside potential here.
With this new generation of cryptocurrencies, even modest commercial adoption would result in thousands of percent gained — perhaps even mirroring the results of Bitcoin itself, which appreciated from $0.06 to its current price of over $5,500 in just seven years.
The question is: which of the over 800 new currencies will take that same path?
I spent weeks working on that question, and by doing some in-depth comparisons, I've managed to isolate just two new cryptocurrencies that show many of the same signs Bitcoin did in its early days.
Both have market capitalizations in the millions, maximizing upside potential.
If you missed out on Bitcoin the way I did, it's time to stop regretting and dreaming what could have been "if only."
Check out my brand new report, detailing both of these Bitcoin 2.0 class cryptocurrencies, before they hit their exponential growth cycles.
Fortune favors the bold,
Coming to us from an already impressive career as an independent trader and private investor, Alex's specialty is in the often misunderstood but highly profitable development-stage microcap sector. Focusing on young, aggressive, innovative biotech and technology firms from the U.S. and Canada, Alex has built a track record most Wall Street hedge funders would envy. Alex contributes his thoughts and insights regularly to Wealth Daily. To learn more about Alex, click here.
The Best Free Investment You'll Ever Make
After getting your report, you’ll begin receiving the Wealth Daily e-Letter, delivered to your inbox daily.