A lot of people are skeptical about investing in Bitcoin due to the different opinions being aired about it. However, you don’t need to be worried because in this article, we will be sharing the reasons why you should invest in Bitcoin. The truth is, cryptocurrency has come to stay and will keep evolving.
Some people think it’s too late to invest in cryptocurrency which is very wrong. Not all the money has been made yet — there’s still a whole lot more money to be made in cryptocurrency.
Outside of making money through Bitcoin, cryptocurrency is also helping to solve many real-life problems in the world today. In essence, cryptocurrency is being applied to solve problems in a variety of different areas — from banking to technology and even healthcare.
- Bitcoin Is Being Recognized as A Currency for Business
Many businesses now use Bitcoin as a means of exchange for the value they offer. Some countries even recognize BTC as a legal tender.
El Salvador is one of the countries that have recognized bitcoin as a legal tender. With these recognitions, Bitcoin will never go into extinction or have fewer returns on investments.
Businesses choose Bitcoin because it helps them grow due to its decentralized nature. They can keep the money as an investment without paying taxes for Bitcoin. Only the cash which is generated and calculated by the government is seen and paid for. Big and global banks such as Wells Fargo and Bank of America are seeking ways to incorporate blockchain technology into their systems. Other companies like Fidelity and Visa are also looking for ways to bring on Bitcoin solutions into their products.
Bitcoin Is the First Ever Cryptocurrency
Bitcoin has been in existence for more than a decade and keeps increasing in value; the value when the white paper was unveiled in 2009 is not the same today. Cryptocurrency is simply the future of money and Bitcoin is the first-ever digital currency that has come to stay. Bitcoin is the father and backbone of other cryptocurrencies and is always being improved for users’ profitability. It has more advantages and reliability than any other cryptocurrency.
Bitcoin Is Decentralized
Bitcoin is simply the money made by the people, for the people, and of the people. There is no government anywhere controlling anything or asking for charges or taxes. It is simply controlled by its owners. You don’t have to pay for any unnecessary tax yet your money grows massively and you’re on your way to financial stability.
Even though a lot of governments have banned cryptocurrency, it has not stopped people from investing in Bitcoin because they have been impressed by its high security and store of value over the years. Bitcoin gives power to the people, not to any authority.
High Rate of Investors
More billionaires in dollars are really looking to pump more money into Bitcoin. And as the demand for Bitcoin increases, the price of Bitcoin also increases. The best time to buy Bitcoin was 5 years ago and NOW.
It Has A Higher Potential For ROI (Returns On Investment)
Since Bitcoin is not easily accessible to everyone and the demand for it is high, whoever has an investment in Bitcoin will get a huge ROI. You know what they say, “The higher the demand, the higher the profit.” If you invest in Bitcoin now, in a few years, there would be even higher demand.
Studies show that in the next few years, Bitcoin is likely going to increase in value . So, investing in Bitcoin now still makes you a part of the early investors.
Legally Recognized as An Asset
Cryptocurrency has recently been legalized as one of the ways to store assets aside from real estate and stocks. The CEO of a business intelligence firm, Micheal Saylor recently converted over $1 billion of his company’s cash holdings into Bitcoin. Other companies like BAKKT are also bringing up institutional investments in bitcoin.
It Doesn’t Rely on Other Markets
Bitcoin works independently of other markets. It is not in any way affected by the stock market because Bitcoin emerged as a result of the stock market’s fall and other financial discouragements. Bitcoin is a pillar on its own as there is no government to control it, it’s not under the influence of inflation or other bad things that happen with our currencies.
High, Evergrowing Security Network
The blockchain technology used to store Bitcoin continues to improve its security measures to prevent cyber-crimes or cybersecurity issues.
Investing in Bitcoin Is Now Easier & Safer
Unlike before, cryptocurrency was an underground thing, but now, cryptocurrency news is everywhere on blogs and social media, etc. It’s something almost everyone can identify with. Bitcoin is also easier now; before, buying bitcoin seemed like a tough process, but now, the systems and protocols have changed and improved, and it’s very easy to do.
Bitcoin Is Scarce
With a permanent number of only 21 billion bitcoins available in the world, this means that even if Bitcoin is distributed to everyone globally, not everyone will get 1 Bitcoin. Each person would only get approximately 0.0023 BTC. Hence if you invest in Bitcoin now, you have just paid your way into financial stability.
Today, many innovations are going on in the crypto ecosystem. Many companies are building various crypto projects, like NFTs, etc. At the same time, some companies are looking at ways to explore the various opportunities in cryptocurrency.
Just a few months ago, Jack Dorsey, the founder of Twitter, was quoted as saying “Bitcoin is key to the future of Twitter”.
In years to come, Bitcoin is going to be one of the most highly sought-after assets. Hence, you need to take Bitcoin seriously now and invest in it.