Mark Cuban & Tony Robbins’ Best Bitcoin Investment Advice Tips

Bitcoin has dramatically increased in value over the last few months. Since the beginning of the year, the value of Bitcoin has increased over six times, making it the most valuable and popular cryptocurrency in the world. Recently, Bitcoin hit an all-time high of $6,000, riding a wave of strong consumer confidence.

A recent survey published by CNBC shows that investors expect the value of Bitcoin to surge even higher, with 49% of people surveyed predicting that the currency will reach more than $10,000 in value. If you’re feeling like now is the right time to invest, both Mark Cuban and Tony Robbins have some important advice: only invest money that you aren’t afraid to lose.

In an interview with Vanity Fair, Cuban stated:

“If you're a true adventurer and you really want to throw the Hail Mary, you might take 10 percent [of your savings] and put it in bitcoin or ethereum. But, if you do that, you've got to pretend you've already lost your money.”

The Bitcoin market is extremely volatile. In the past, Bitcoin has experienced extremely sharp rises in value, only to drop suddenly. Earlier this week, Bitcoin dropped more than $500 in value after indications of potentially stricter US regulation.

In September the currency dropped more than $2,000 briefly after China announced a severe crackdown on digital currency trading. The high levels of volatility exhibited by Bitcoin is one of the primary reasons it’s criticized so heavily by its opponents.

Both Cuban and Robbins advise entering the Bitcoin market with the mindset that although it’s possible to generate a significant amount of profit in a short time, it’s possible that you could potentially lose your entire investment:

In an interview with CNBC, Robbins stated Bitcoin is very “iffy”, sharing his perspective that investing in Bitcoin is analogous to gambling in Vegas. As with gambling, according to Robbins, Bitcoin investment should only be pursued with discretionary funds. With this approach, a net profit can be treated as a “big win” and a loss won’t hurt investors financially.

Cuban has expressed a similar perspective on Bitcoin investment:

“It is like collecting art, like collecting baseball cards, like collecting shoes — something is worth what somebody else will pay for it. It is a flier, but I would limit it to 10 percent.”

Both Cuban and Robbins share the opinion that low-cost index funds are the best long-term investment, offering financial advice that is more in line with a conservative, traditional approach. Cuban advises saving up six months worth of income and investing in the cheapest SPX mutual fund that can found. Cuban refers to an index fund that consists of companies in the S&P 500, which are often simple and low cost ways to invest in some of the biggest companies in the world.

Robbins also promotes investment into index funds, advising in his book Unshakeable that they take a “passive approach” that can protect investors against “all the downright dumb, mildly misguided or merely unlucky decisions that active fund managers are liable to make”, in his words.

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