Bitcoin reaches new highs, financial planner explains impact [Video]

IT’S NOW 617. BITCOIN HAS REACHED NEW HIGHS, BUT WHAT EXACTLY DOES THAT MEAN FOR YOU? WELL, SCOTT COLE, A FINANCIAL PLANNER BASED IN THE BIRMINGHAM AREA, SAYS BITCOIN IS REALLY COMPLICATED. BUT JUST THINK OF IT LIKE DIGITAL GOLD. IT HOLDS VALUE AND CAN BE BOUGHT, SOLD OR TRADED MUCH LIKE ANY STOCK. AND IT HAS SOARED TO A RECORD HIGH AFTER THE. ELECTION, UP MORE THAN 20% FROM LAST WEEK. COLE SAYS IT’S LIKELY IN RESPONSE TO PRESIDENT ELECT TRUMP BEING CRYPTOCURRENCY FRIENDLY. HE SAYS INVESTING IN BITCOIN CAN BRING GREAT REWARDS AND GREAT RISKS. THIS IS THE CYCLE. SINCE 2009. THIS IS WHAT BITCOIN HAS DONE REALLY DRAMATIC HEADLINE GRABBING RUNS UP AND EQUALLY HEADLINE GRABBING DROPS DOWN. COLE SAYS. WHILE IT’S AN EXTRAORDINARILY VOLATILE INVESTMENT, HE SAYS IT CAN BE WORTH IT AS LONG AS YOU’RE WILLING TO ACCEPT THE RISK. IF YOU HAVE THE MONEY …