Forget Bitcoin! I’d aim to retire rich with these investments instead

I wrote earlier this year about Bitcoin staging a dramatic recovery and discussed whether it represented a value investment as it breached £10,000 per coin again in July.

I was highly sceptical about the long-term prospects of Bitcoin due to its inherent volatility and lack of regulation. My scepticism has been compounded by reports this week that one solitary trader could have been behind the surge that led Bitcoin to highs of nearly £14,000 in 2017.

The lack of any underlying assets to back up the cryptocurrency means that the price is solely driven by what an investor is willing to pay for it – not ideal as a long-term investment strategy.

If I was looking towards retirement in the hope of having a pretty sum to look forward to, I don’t think Bitcoin is the way to go.

Long-term outlook

There are a number of other investments that I believe will significantly outperform Bitcoin in the long run – I would focus on blue-chip stocks that have established businesses and cash…