Published on 22 Mar 2024 on Motley Fool via Yahoo Finance

Forget the "Magnificent Seven" Tech Stocks. I'm Buying Bitcoin for the Long Haul

There's no denying that the "Magnificent Seven" tech stocks have been, well, magnificent over the past five years. All of them have at least doubled in value, and some have tripled, and Nvidia (NASDAQ: NVDA) has increased in value by a whopping 1,980%.

But what if I told you that Bitcoin (CRYPTO: BTC) has been equally magnificent over that same period? Over the past five years, Bitcoin has skyrocketed in value from just under $4,000 to its current price of $65,600. And if you take the past decade into consideration, Bitcoin's performance has been even more jaw-dropping.

With the caveat that past performance is no guarantee of future performance, I'm buying more Bitcoin than Magnificent Seven stocks nowadays. Here's a closer look at why it could finally be time to add Bitcoin to your portfolio.