Bitcoin (BTC) is probably one of the most popular cryptocurrency worldwide. It is safe to say that bitcoin has achieved substantial success in the cryptocurrency market. Many people even associate the term bitcoin with the word cryptocurrency.
Today, bitcoin has reached a position where it is even endorsed by the government of many countries. There’s an increasing number of people investing in bitcoin. Despite everything, there still exists a group of people who are a bit sceptical about the bitcoin cryptocurrency. In this article, we will be clearing your doubts about bitcoin investment. Along with that, we will also give you some legit reasons why you should be buying bitcoins.
Should you invest in bitcoins? Is it the right time?
In October 2020, the value of bitcoin reached a new high. This led to increased bitcoin trading.
According to the founder of cryptocurrency intelligence company Token Metrics, Ian Balina, bitcoin provides one of the biggest investment opportunities to people of this generation.
Seeing the potential of bitcoin, many top-level companies such as Overstock.com, Microsoft, and others have started accepting payments in bitcoins. By doing so, they are demonstrating a sign of adoption.
From the current development of bitcoin, it is safe to assume that it is here to stay. Some investors even go to the extent of comparing bitcoin with gold. According to them, bitcoin has a store value as gold. That’s because its relative worth rises against gold and the US dollar. This is why it is called the liquid gold of this generation.
Top 3 Reasons To Invest In Bitcoin (BTC)
There are several reasons to invest in bitcoins. However, we are going to focus only on three of the main reasons.
High demand, limited supply
Bitcoins are created by miners. However, the supply of bitcoins is going down overtime at a predictable and calculated rate. The total number of bitcoins created every year is halved every four years. Given that there are less than 21 millionaires in the world, in the future, not all millionaires will own a whole bitcoin on their own.
This increase in demand and decreasing supply is used to boost the value of bitcoins. For something to be in high demand, it needs to hold high value. Bitcoin’s value is increased every year. It is a useful form of digital money that has the features of fiat money. It doesn’t depend on authorities like the government and banks and physical properties such as silver and gold.
Bitcoin is based only on mathematics. It is because of this reason that the demand for bitcoin will continue to rise. Therefore, it seems to be a great option for investment.
It is the ‘liquid gold’ of this generation
The value of gold remains unchanged even when a country prints more money or is at war. The same applies in the case of bitcoin as well. Unlike traditional currency, the value of bitcoin and gold remains unaffected. Not just that, but it cannot be devalued by any federal reserve either. This tempts investors to invest in bitcoin, instead of gold.
Gold has certain drawbacks that bitcoin doesn’t. For instance, gold requires space and transferring it is costly. It also needs to be protected which incurs further costs. This is one of the main reasons why bitcoin is considered to be better than gold. Even Bill Gates, the founder of Microsoft said so.
Bitcoin is affordable and can also be transferred easily. It takes just one bitcoin wallet to store bitcoins worth 100 million dollars. The advantages of bitcoins are slowly realized by the central banks worldwide. This is what is leading them to invest in bitcoins, instead of gold.
Has a bright future
In case, you didn’t realize it by now millions of investors and BTM members worldwide invest in bitcoins. This indicates that bitcoins have a bright future ahead. Experts even say that it is going to be the future of money.
Keeping all the factors in mind, it is safe to say that bitcoin has great potential. No investment is indeed free of risk and neither is bitcoin. What we are trying to say is that bitcoin seems to have a promising future.
Bitcoin is a decentralized cryptocurrency that makes it impossible to shut down. If authorities worldwide would want to end bitcoin, they have to shut down the internet and that is something that is not going to happen. This means bitcoin will stay, no matter what. This is yet another reason to consider investing in bitcoin.
Bitcoin is one of the most successful cryptocurrencies in the world. Many cryptocurrencies have emerged in the market but none could match the level of bitcoin. If you want to invest in cryptocurrency, then bitcoin would be the best choice for you.