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Investing in Basic Income

Picture credit to: The Guardian.

 

Many new digital currencies have been created recently. According to Market Watch, there combined market capitalization has surpassed $100 billion dollars.

An investment of just $100 dollars in Bitcoin back in 2010, when each unit was worth a fraction of a cent, would be valued today at more than $70 million. That is enough for an early retirement.

Having bought Bitcoins last year, there would still be an opportunity for a very large gain. At one point, Bitcoin prices were up approximately 180% for the year, as CNBC reported. That’s much more than the broad stock market, which returned between 7.9% and 15%, depending on the index.

On the 19th of June 2017, the International Monetary Fund issued a staff discussion note stating that banks should consider investing in cryptocurrencies, saying: “Rapid advances in digital technology are transforming the financial services landscape, creating opportunities and challenges for consumers, service providers and regulators alike”, according to an article in The Guardian.

Today there are a number of different digital coins that are set up to help fund Basic Income. Grantcoin, Cicadia , uCoinSwarm, and Circles, which uses Ethereum. There are also UBI-like programs by Kiwicoin in New Zealand, CubecoinStrangecoinWorldwide Globals Organization, and the Basic Income Project, LLC.

About Michael Keith

Michael Keith has written 4 articles.

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