So the fact is obvious that anybody who has less money than Musk should not invest in Bitcoin. Musk has been very vocal about his passion for Bitcoin. His company Tesla recently invested $1.5 billion in cryptocurrency.

Gates during an interview with Bloomberg TV had said that Bitcoin is not for everyone and only the richest person in the world should consider investing in it.

“Elon has tons of money and he’s very sophisticated, so I don’t worry that his Bitcoin will sort of randomly go up or down.I do think people get bought into these manias who may not have as much money to spare. My general thought would be that if you have less money than Elon, you should probably watch out,” Gates said in the interview.

Bitcoin’s value doubled after Tesla purchased $1.5bn of the currency and accepted it as a mode of payment. Musk soon after his company made an investment called Bitcoin a less dumb form of liquidity than cash.

Tesla’s 10-K report confirmed with the United States Securities and Exchange Commission (SEC) that Tesla has invested $1.5 billion in the Bitcoin cryptocurrency.

“We invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt,” the company said in the report. However, Musk had warned users to not spend all their life savings on cryptocurrency in a separate video.

While Gates only wants rich people like Musk to invest in Bitcoin, the latter advised people to not invest their life savings in cryptocurrency. “People should not invest their life savings in cryptocurrency, to be clear — that’s unwise,” Musk said. “There’s a good chance that crypto is the future currency of Earth, and it’s like which one’s it going to be? Maybe it’ll be multiple. It should be considered speculation at this point. So don’t go too far with the crypto speculation front,” Musk

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Those who invest in Mutual Funds through a Systematic Investment Plan (SIP) should be aware of some basic facts. As the stock market moves higher, retail investors are more likely to invest. But no matter whether it is the stock market, or whatever asset may be, good performance should not be the only reason to invest. Instead, invest in a long-term goal. Investors should always be prepared for the possibility of ups and downs as volatility is a fundamental characteristic of asset sectors such as the stock market.

Those who make SIP investments in the long run should not stop investing from time to time. Even experts may not be able to pinpoint the exact way in which investments are withdrawn and reinvested based on assumptions about where the market is headed.

SIP investors should take care to adjust the investment period with certain objectives in mind. SIP regulates and mitigates the risk of market fluctuations. This risk increases as the SIP investment period draws to a close. Therefore, two methods can be adopted to reduce this risk.

One way is to shorten the duration of the SIP rather than the time to reach the goal. If you want to achieve your goal after 10 years, the SIP investment period should be eight or nine years. If the investment value has reached the amount you intend within this period, it can be withdrawn in whole or in part. If the stock market shows signs of turning negative in the last few years, the investment can be completely withdrawn.

Another method is to withdraw the investment gradually, just like investing under SIP. During the last years of the investment period, a fixed amount can be transferred every month from the equity fund to the debt fund as per the systematic withdrawal plan. The investment can be completely withdrawn from the debt fund when required.

Market fluctuations should not be underestimated. Fluctuation is a fundamental characteristic of the market. Long-term investors do not have to constantly monitor it. We use SIP as a safe way to overcome the volatility and make long-term gains. Investment decision making based on market fluctuations can adversely affect investment objectives.

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