Forget Bitcoin! Here’s how I’d invest £1k today to try and make a million

Over the last four months, Bitcoin’s price has fallen by around 30%. It’s still up by 130% since the start of the year, which may mean some investors are making significant profits on it.

However, the long-term prospects for the cryptocurrency could be relatively unfavourable. Regulatory challenges, its limited size and a lack of infrastructure could combine to hold back its progress.

As such, investing in a wide range of FTSE 250 shares could be a better idea. They may provide diversity, growth potential and a more obvious route to making a million due to their solid track record of returns.

Bitcoin woes

While Bitcoin may have fallen in recent months, investors won’t know whether it now offers good value for money, due to its lack of fundamentals. Its price level is based solely on investor sentiment, which can clearly change rapidly. Therefore, investors have no way of knowing if it is undervalued or overvalued, which significantly increases the risks of holding it.

Furthermore,…