Speculating on bitcoin stocks

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Enough, in fact, to warrant viewing his security operations as equivalent to a business enterprise. That seems to apply to cryptocurrencies. There is no room in this philosophy for a middle ground, or a series of gradations, between the passive and aggressive status. However, according to Graham, if you're speculating on bitcoin stocks ready to do it full time, it's not worth pursuing the aggressive investor path.

By Graham's definition, this disqualifies cryptocurrencies as an investment. Graham describes two profiles for intelligent investors. Let's consider Benjamin Graham's definition of an investment:

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