Great news indeed for those with dreams! Bitcoin is on a remarkable upswing, and it seems like we are all on the verge of attaining great wealth. If one were to glance at mainstream media sources (though I choose not to), one would likely encounter headlines such as "Bitcoin Surges Beyond $100,000 in 2024's Impressive Rally" and "Bitcoin Breaks Through the $100,000 Barrier Amid Post-Election Cryptocurrency Surge." USA TODAY reported with great excitement, "The price of bitcoin surpassed $100,000 for the first time on Thursday, fueled by expectations that Donald Trump will create a favorable regulatory environment for cryptocurrencies when he takes office next year."

Woo-hoo! The Crypto Phenomenon

It's truly a remarkable sight as difficult-to-comprehend cryptocurrency seemingly emerges out of thin air, yet holds a significant place in the financial landscape. Just like the Beanie Babies craze of the mid-1990s, this is a time when we have the opportunity to achieve oil-barron-level wealth. Back then, we took investment advice from those who predicted extraordinary returns on plush stuffed animals like Nip the Cat, Inky the Octopus, and Bongo the Monkey. And look at us now! We have three mortgages and 37 large plastic bins filled with Beanie Babies in our attic, which we fondly refer to as our "attic-based retirement."Bitcoin's current craze is not only driven by the excitement but also by some rather interesting figures. President-elect Donald Trump, who has made a fortune and become the leader of the free world by convincing people to purchase $30 red hats, is all in on crypto. He touted the bitcoin news on his social media site, Truth Social, with a jubilant message: "CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!!" Over the first three quarters of this year, Truth Social made $2.6 million in revenue while incurring a loss of $363 million. Its stock was trading at about $34 a share on Thursday, compared to the $66-per-share high in March after it hit the stock market. Despite the fluctuations, I am determined to follow Trump's instincts and investing advice.Elon Musk, famous for his high-profile ventures such as paying a hefty sum for Twitter and creating the overpriced electric car currently parked in my driveway, is also a strong crypto advocate. He doesn't seem to possess any of the weird or volatile traits often associated with such figures. If Trump, Musk, and Vivek Ramaswamy tell me to buy bitcoin, I'm in! Ramaswamy, who has been paired with Musk by Trump to form the Department of Government Efficiency (an acronymic reference to "Dogecoin"), doesn't give off the impression of being someone who would try to sell me a "forward mortgage" along with my "reverse mortgage" or a knockoff ShamWow.

The Allure and Risks

The fast-talking Ramaswamy may not seem like the typical investment advisor, but his enthusiasm for bitcoin is contagious. Just because bitcoin may seem like a scam at first glance doesn't mean it isn't worth considering. After all, the U.S. Justice Department seized more than $112 million linked to crypto investment schemes last year. Federal prosecutor Martin Estrada stated at the time, "Using the methods of traditional con artists, high-tech fraudsters have taken advantage of the publicity and hype surrounding cryptocurrency to encourage countless Americans to invest in get-rich-quick schemes." But who cares about the risks when the potential for quick riches is so enticing?Harvard professor Eric Maskin, a winner of the 2007 Nobel Prize in economics, recently warned that cryptocurrencies are "very far from being a safe investment" and that they are a "very good way of conducting criminal transactions and hiding them under anonymity." But I'm not going to let his words deter me. When he says "far from being a safe investment," I hear, "I don't want you to invest in this great opportunity, so I can have it all to myself." I'm going to trust the guys who stand to benefit from my belief in bitcoin. It's time to take a leap and sink my life savings into something that may not be a traditional asset but holds the promise of great rewards. And if things don't go as planned, I still have my attic full of Beanie Babies to fall back on. They are bound to be worth a fortune any day now.Follow USA TODAY columnist Rex Huppke on Bluesky at @rexhuppke.bsky.social and on Facebook at facebook.com/RexIsAJerk.