J.Lo and A-Rod Backed a Fintech Play. They Should Invest in Bitcoin Next
Jennifer Lopez and Alex Rodiguez invested in the fintech firm Acorns Grow Incorporated. They should buy bitcoin next. Here's why. | (i) Photo by ANGELA WEISS / AFP (ii) Shutterstock; Edited by CCN
By CCN Markets: Its not unusual to see A-listers diversify their income streams by investing in promising ventures. We recently learned that celebrity couple Jennifer Lopez and Alex Rodiguez have dipped their toes into the financial industry by investing in fintech firm Acorns Grow Incorporated.
Acorns has amassed a huge pool of 5 million customers since its launch in 2015 due to its interesting value proposition. Customers can round up their debit card purchases and invest the extra money into stocks and bonds. On top of that, the firms debit card eliminated the minimum balance requirement as well as the ATM fees and overdraft fees. Instead, customers pay between $1 - $3 per month based on their selected services.
From the surface, it appears that the power couple has very good reasons why they invested in Acorn: to grow their own investments while helping others save and invest. If these reasons are accurate, then J.Lo and A-Rod should invest in bitcoin next, using part of their roughly $700 million combined net worth. Heres why.
Bitcoin Remains 2019s Top Performing Asset
If J.Lo and A-Rod are interested in exponentially growing their investment, they should look no further than bitcoin. The king of cryptocurrencies is up by almost 190 percent year-to-date. This puts the leading cryptocurrency way ahead of other assets.
Best of all, bitcoin is just getting started. The May 2020 halving is an ultra bullish event. Based on the first two halvings, the cryptocurrency can rise anywhere between 2,902 percent and 7,926 percent from the date of the third halving to a new all-time high.
Entry of Bakkt Should Help Users Save and Invest at the Same Time
Bakkt is a regulated platform where users can safely buy, store, and spend bitcoin. The company keeps custody of the cryptocurrency so that users can easily convert it into fiat currency like the U.S. dollar whenever they make a purchase to partner merchants. With Bakkt, there are no ATM fees, overdraft fees, or subscription fees. Without these fees, users can save money in the long run.
With this system, Bakkt users can safely purchase a growing asset in bitcoin. On top of that, they can use the platform as a cost-effective payment solution.
Overall, bitcoin stands as a better investment option for J.Lo and A-Rod. ...