Afternoon pondering

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Just had a thought float through the brain. It was sort of a random thing since I wasn’t thinking about this at all, but it just sort of popped in and now I can’t seem to get it out of my head?

Anyone been following the Elon Musk and Twitter thing? You know, that he wants to buy it for like $46 billion?

The thought that floated and stuck…what if he bought it for that boat load of money and then just pulled the plug? Like just shut it down. No more Twitter, period.

How cool would that be?

Anyone else think that would be cool?

Talk about the ultimate boss move. Buy it. Shut it down. Move on.

Cool.

Probably won’t happen, but I think it would be cool if it did.

Good idea?

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Well, I am not sure what to make of it, but the early indications are positive. I decided at the end of December to try something new and dabble in a little something I don’t know much about. I decided to “invest” in digital currency, or cryptocurrency, or virtual currency.

It’s not a large investment because I wanted to see how it works and just kind of dip my toes into it. Because of the high volatility of cryptocurrency, I am a bit leery of the stuff but at the same time kind of intrigued by it. As such, the time and money and opportunity all seemed to come together.

I have money that goes into a PayPal account that just kind of sits there. The long and short of it is that the money is basically “free money” that I get each month from resources that I published online while I was a teacher. I get sales from that each month and the amount varies widely based on the number of items purchased. So, there is a lump of “cash” sitting in the account mostly doing nothing. I could transfer it my regular bank account, but why? I look at it as a blind account for a rainy day.

Anyway, at the end of December I saw that PayPal was going to offer the ability to purchase digital currency. So, I decided to take a small-ish amount of that lump and see what happens. There isn’t a need to have access to that money, really, so it is mostly a long term investment.

I bought some Bitcoin and Ethereum, two of the most popular forms of digital currency. Why these two? Well, from what I can gather they are also the most stable – as far as that goes.

Anyway, I put $90 into Bitcoin and $20 into Ethereum. At that point, I was a very small, fractional, owner of the currency. Exciting right? Not really. When you look at the amount per share it is less than thrilling. One share is worth $55.4k at the moment. So, I own all of 0.00339408 for my $90 investment. Cool, right?

Well, that is the interesting part. For my original investment of $110, I now have a chunk of “cash” that sits at just under $242 (at time of publishing). I have more than doubled that little toe dip in just under two months. Is that a good return? I would say so, but at the same time it could go right back down to where I started in a heartbeat so I am not getting real excited.

BUT, I can certainly see why there are lots of people so enticed by this idea. Buy in, watch it go up, sell at a higher price. If you’re talking in BIG dollar amounts, this would make total sense. In fact, Elon Musk (he’s kinda bright, right?) just sunk $1.5 billion into Bitcoin from his Tesla company at the beginning of the month. He was looking to create more capital by leveraging Bitcoin. Seems it worked since the price has shot up since he invested.

I am not making or giving any financial advice, by any means. However, I am curious if there are any others out there that have ventured into these relatively unknown waters and what their experience has been.

Hit me up in the comments and let me know what you think. Good idea? Bad idea? Had good or bad success yourself?