Forget the Bitcoin price! Here’s how I’d invest £10k to make a million

first_img Image source: Getty Images Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Rachael FitzGerald-Finch | Friday, 20th November, 2020 | More on: ^FTMC Simply click below to discover how you can take advantage of this. 5 Stocks For Trying To Build Wealth After 50 Markets around the world are reeling from the coronavirus pandemic…And with so many great companies trading at what look to be ‘discount-bin’ prices, now could be the time for savvy investors to snap up some potential bargains.But whether you’re a newbie investor or a seasoned pro, deciding which stocks to add to your shopping list can be daunting prospect during such unprecedented times.Fortunately, The Motley Fool is here to help: our UK Chief Investment Officer and his analyst team have short-listed five companies that they believe STILL boast significant long-term growth prospects despite the global lock-down…You see, here at The Motley Fool we don’t believe “over-trading” is the right path to financial freedom in retirement; instead, we advocate buying and holding (for AT LEAST three to five years) 15 or more quality companies, with shareholder-focused management teams at the helm.That’s why we’re sharing the names of all five of these companies in a special investing report that you can download today for FREE. If you’re 50 or over, we believe these stocks could be a great fit for any well-diversified portfolio, and that you can consider building a position in all five right away. Enter Your Email Address Click here to claim your free copy of this special investing report now!center_img Forget the Bitcoin price! Here’s how I’d invest £10k to make a million Rachael FitzGerald-Finch has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Is Bitcoin a good investment? Many people seem to think so. The Bitcoin price is currently trading around $18,322, and its market capitalisation is at an all-time high of $336bn. There’s definitely plenty of hype surrounding the cryptocurrency with many people confident that, as it finds mainstream acceptance, it’s value can only go up. However, as a way to invest £10k, gambling on the Bitcoin price is highly risky.What if the price is at the top of another peak? What if people don’t accept Bitcoin as mainstream currency? What if… ? What if…? So many questions. Although many of these may also apply to FTSE-listed companies, unlike firms, Bitcoin has no intrinsic value. So, its price is based purely on the quantity of it demanded, meaning my chance of making any money, let alone a million, is based on others believing it’s worth more than I do. And at current prices, surely there can’t be that many? But, I’m guessing. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Consequently, if I could choose how to invest £10k, I’d forget the Bitcoin price and look elsewhere for something less risky.Forget premium bonds tooIf some of my friends had £10k to invest to try and make a million, they tell me they’d stick it into NS&I Premium Bonds. Premium Bonds are the UK’s biggest savings scheme where the monthly interest due to you, the saver, is determined by a monthly prize draw. Moreover, you won’t lose your money, rising inflation notwithstanding.The top prize is £1m. Not bad interest if you can get it. And therein, lies the problem. The chance of winning this amount of interest on one £1 premium bond is 1 in 48,733,655,950. By comparison, the probability of winning the lottery is a much better 1 in 45m. So, Premium Bonds are definitely less risky than Bitcoin but they’re also unlikely to make me that million. There must be a better way. How to invest £10k? The FTSE 250Alternatively, I could invest in FTSE 250 firms. Over the last five years, the index has produced a return of around 14%. If it carries on like this, I could put £10k in a tracker fund, wait about 35 years and voila! My million. Or, I could add a little each month to the initial £10k, hopefully resulting in making a million sooner.Investing in a company is not like buying Bitcoin. You’re putting money into a real entity that produces something useful, like food, clothing, or vaccines. You can also assess each firm on how it’s doing relative to its peers and give it a monetary value. You can access information to help you make these judgements, lowering your risk of losing money.   After emerging from a stock market crash, and with the promise of a Covid-19 vaccine, FTSE-listed firms should be anticipating generating real revenues once again. Increased revenues often mean larger profits and the prospect of good returns, whether from income or capital gains. It’s a great time to invest. So, forget Bitcoin. I’m putting my £10k into firms on the FTSE 250 to make a million. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Our 6 ‘Best Buys Now’ Shares See all posts by Rachael FitzGerald-Finchlast_img read more