Thirsty Investors Are Taking Out Mortgages on Their Homes to Cop Bitcoin

Joshua Espinoza

Being an adult of a certain age, I'm OK with sharing this fact with you: I don't understand the first thing about bitcoin. I mean, I've heard about cryptocoin mining and have had people tell me to invest in it, but how does one do any of that? I couldn't tell you. Hell, even though bitcoin is said to (somehow) be more valuable than McDonalds and Disney, I didn't even realize there were physical bitcoins until I found the above photo for this very post.

Anyways, like I said, heads have been talking about investing in bitcoin HEAVY over the last week or so. Apparently, it's gone up as high as $19,000 per unit at one point (jumping more than 1,000 percent since the beginning of 2017), and is currently hovering around the $16,000 mark. This has people going nuts trying to invest as much as they can, even to the point of taking out mortgages on their homes to invest in Bitcoin. Why? Because people will do anything when something as sought-after as bitcoin is in its “mania” phase.

Despite reports that bitcoin is indeed a bubble, that doesn't seem to stop people. CNBC is reporting that Wall Street isn't even convinced that bitcoin is actual currency, which is concerning. It's wild, especially considering that a show like Mr. Robot, which aims to showcase what would happen during an actual economic crisis, is highlighting how important a bitcoin-esque line of currency would be in those kinds of financial downfalls.

What does any of this mean, in layman's terms? Essentially, invest in bitcoin at your own risk. While the future could change, currently, it's in a frenzied state, and may not even pan out in terms of actual dollars. That said, if you're not ready to put in the work on the pros and cons of playing with that kind of fire, don't do insane shit like putting a mortgage on your house to potentially fuck your livelihood up.

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