For the longest time, there were only a few investment choices for people who wanted to go above and beyond a 401(k) or a savings account. Those with extra income typically opted for stocks, bonds, annuities, and real estate. Today, many adults in the United States — especially millennials and Gen Zers — find those granddad options about as relevant as a phone book.
Almost since the day the first bitcoin was minted 12 years ago, financial advisers have been telling investors to avoid it. “Cryptocurrency is far too volatile and has proven itself to be the biggest bubble since the tulip bubble in the 1600s,” one declared in a 2019 advice column headlined “6 Risky Investment Fads to Avoid.”