Bitcoin has been hitting an all-time high in the last couple of weeks. There hasn’t been much volatility in the last two years or so. Looking at the past history, you’ll not want to dismiss Bitcoin as an investment vehicle. If you’ve been observing the markets, you’re well aware that 2017 was one of the best years for Bitcoin. It’s the year that saw investors get 1350% return. Although unlikely to happen again, it just shows the potential has.
As we enter 2021, you could be thinking of diversifying your investment portfolio. Perhaps you’d want to try something new and out of the ordinary. Here are some of the reasons why you should consider investing in Bitcoin.
Increased Rate in Adoption
As more and more people get to learn about Bitcoin, the adoption rate increases. There are stores and online platforms that have started to accept Bitcoin as a form of payment. The number of Blockchain wallet users has increased by nearly 30 million according to data from the company. There are also investment companies like Bitcoin Up that are making it easy for consumers to get started with Bitcoin. You can learn more about Bitcoin Up by visiting their website.
There has also been an increase in the number of people buying Bitcoin using different wallet providers. Originally, crypto purchase purchases were limited to $10,000 a week but the increase in demand has seen the Bitcoing cap raised to $20,000.
There are tons of learning resources that you can easily access for free if you’d want to learn about trading Bitcoin. There are also Bitcoin investors that provide valuable insights into trading. It will be rare to get such honesty and transparency with other investment options. Bitcoin is pretty much an open market and there are no restrictions if you’d want to get started. You can start trading as soon as your account is set up.
Price Can Only Grow Up
The price of Bitcoin can only go up despite the volatility that has been witnessed in the last three or so years. There will be more people that come to learn of the currency and the benefits over traditional forms of money. It’s only a matter of time before the usage of Bitcoin attracts both small and big businesses. The Bank of America has its own coin which shows the kind of competition they’re expecting going forward into the future. The more people start to use Bitcoin, the more valuable it becomes.
Although there are still a ton of modalities to be figured out, governments have started appreciating the importance of Bitcoin in their overall financial setup. They’ve acknowledged that it’s something they’ll have to deal with even though they might not have control over it. One of the reasons why world governments have had a hard time fighting Bitcoin is because of the security features it comes with.
Bitcoin will perform independently compared to other markets. This has already been witnessed in 2020 going into 2021. Bitcoin has remained unscathed for the most part when stock prices have been dropping. Bitcoin came about as a reaction to the crash of the stock market more than a decade ago. As a shrewd investor, it will make sense to invest in Bitcoin as you’ll not want to put all your eggs in one basket.
Store of Value
Bitcoin has been compared to gold because it can be used as a store of value. For starters, it’s a universal currency. That means that it doesn’t fall under any jurisdiction. There is a limited supply and almost impossible to mine right now. That makes it the ideal choice if you’d want to digitally store value. One huge advantage of Bitcoin over gold is that it’s digital. You can have it with you whenever you travel and use it to make payments. Transactions are instant and you can forget about the middleman.
Can’t Be Confiscated
You’ve heard stories of people having their property confiscated and their banks being frozen. Since cryptocurrency is not controlled by the government or any financial institution, there is no way your money can be confiscated unless you authorize the transaction. It will not be impossible for the government to know you own crypto unless you tell them.
To Sum it Up
Bitcoin is likely to appreciate in value despite the volatility. We hope you’re still not on the fence on the decision to invest in the coin. Only invest what you can afford to lose.
Krishna Murthy is the senior publisher at Finance XOD. He is not only the senior publisher but also the owner of Tricky Finance. Krishna Murthy was one of the brilliant students during his college days. He completed his education in MBA (Master of Business Administration), and he is currently managing the all workload for sharing the best banking information over the internet. The main purpose of starting Tricky Finance is to provide all the precious information related to businesses and the banks to his readers.