DON'T LOOK NOW, but Bitcoin is back. This may come as a surprise to investors who wrote off crypto altogether after a spectacular series of frauds and mishaps led the value of the currency to plummet by around 75% from late 2021 through 2022.
Yet it's hard to argue with recent numbers. Since it bottomed out at $16,000 in November 2022, Bitcoin has rebounded; in March it passed the $70,000 mark for the first time.
Like it or not, the quirky currency stands as one of the best-performing assets of the year and of the decade-even after a recent pullback.
Many changes have driven this rally, but one of the biggest is the fact that you can now invest in Bitcoin through exchange-traded funds (ETFs)-a process that feels far safer and easier for newcomers.
Long-established financial brands like BlackRock and Fidelity have jumped into the ETF game, conferring legitimacy on a sector still viewed by many as the province of rogues and gamblers. The halo effect of the giant asset managers may spread still further in coming months, as they begin including Bitcoin ETFs in some of the model portfolios they recommend to investment advisors. But for the novice wondering if now's the time to invest, it's critical to understand how Bitcoin and other cryptocurrencies work-as well as the forces behind the recent rally.
Different this time?
Denne historien er fra April - May 2024-utgaven av Fortune US.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra April - May 2024-utgaven av Fortune US.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
KKR'S $1 TRILLION GAMBLE
The co-CEOs of KKR have a radical strategy to supercharge growth - and chart a path far different from that of their mentors, Henry Kravis and George Roberts.
THE SHIPWRECKED LEGACY OF MIKE LYNCH
THE BRITISH TECH MOGUL SOLD HIS COMPANY FOR $11 BILLION, THEN SPENT YEARS FIGHTING FRAUD CHARGES. HIS SHOCKING DEATH HAS LEFT MANY UNANSWERED QUESTIONS ABOUT HIS LIFE.
FORTUNE - CHANGE THE WORLD
THESE COMPANIES BUILD BUSINESSES AROUND SOLVING SOCIAL PROBLEMS AND THEY DO WELL BY DOING GOOD.
Can Cathy Engelbert Handle the Pressure?
The WNBA commissioner and ex-Deloitte CEO is leading the league through a season of historic highs, but critics wonder if her game plan is good enough to seize the moment.
Kamalanomics: Harris's Road Map for Business
Vice President Kamala Harris hasn't done much to woo Big Business. Many executives would still rather take their chances with her than the alternative.
Mary Barra
The CEO of General Motors accelerates into our top spot.
MPW - MOST POWERFUL WOMEN 2024
WHEN FORTUNE launched its Most Powerful Women list in 1998, women were just starting to trickle into the C-suite in significant numbers.
WHO HAS TIME FOR A POWER LUNCH? THE REAL BUSINESS HAPPENS AT 4 P.M. 'POWER HOUR.'
THE SUN is pouring in through the floor-to-ceiling windows when the bar begins to fill with bespoke suits on a Tuesday in August at Four Twenty Five. The new restaurant from Jean-Georges Vongerichten is on the first floor of a Midtown Manhattan skyscraper, beneath the offices of financial giant Citadel Securities. And the traders are thirsty.
HOW TO TAKE ADVANTAGE OF THE FED'S BIG RATE CUT
THE WAIT IS OVER. After more than a year of will-they-or-won't-they, the Federal Reserve on Sept. 18 announced the first cut to its benchmark Federal funds rate since the early days of the COVID-19 pandemic, a 50-basis-point drop that Chairman Jerome Powell signaled is likely the first of many.
FOR GEN Z AT WORK, THE GENERATION GAP IS A WELLNESS GAP. HERE'S HOW TO BRIDGE IT
FOR ONE nonprofit executive director, it was a 2022 New York City subway shooting that highlighted the stark differences between how he, a 55-year-old, and his Gen Z staffers show up to work.
