Bitcoin is the only talk of the general public for the past few years in the cryptocurrency world. In mid-2017, people started exploring bitcoin when its value started to rise for the first time, whereas everyone was aware of bitcoin at the end of 2017. Many people seem to grow their interest in investing in bitcoin. Do you know why? The value of bitcoin increased dramatically at the end of 2017, and its value was increasing dramatically. It made normal investments like bonds or stocks appear senseless. At that time, crypto experts said that bitcoin would be a big currency, and in the future, it will even replace fiat currencies.
No one believed that bitcoin would gain success, but as of 2020, bitcoin’s value has surpassed the value of all fiat currencies and cryptocurrencies and has set a new record. Bitcoin is becoming admired worldwide because it is a store of value that provides high ROI than fiat currencies. It means that bitcoin makes the best investment opportunity. Ethereum is also one of the largest cryptocurrencies along with bitcoin, and you can learn more about it from jt.org
Before you decide to invest in bitcoin, you need to find the crypto exchange from where you can buy your crypto tokens. Let us now talk about bitcoin and its growth.
For instance, if you have invested in any of the companies, says Amazon, five years back. Amazon has become one of the best companies in terms of market cap and has left no stone unturned in impressing people. A share of any top-performing company in today’s time is around seven times more than five years ago, whereas the value of a bitcoin nowadays is more than 250 times more than the value of bitcoin five years ago. Now you see that if you have invested in shares of any company, it would seem pointless in front of investing in Bitcoin.
Despite knowing the increase in bitcoin’s price, it is imperative to know the right time to enter into the bitcoin market and invest in it.
Does Bitcoin make an excellent investment?
Bitcoin is an excellent investment or not; it completely depends on the knowledge that you have about investing in a currency. Before you invest in bitcoin or any other currency, you need to gain in-depth knowledge about it by researching it and taking advice from financial advisors. Bitcoin is an electronic form of money that is transferred over the internet. Like you use regular money for the purchase and sale of things, bitcoin is also a medium of exchange used to buy and sell things in a peer-to-peer network.
Many people doubted the potential of bitcoin because of some of its negative factors, but bitcoin has proved its potential by raising its value in the past few years. Bitcoin comes under the category of best investments among all currencies. In 2009 bitcoin was introduced, and at that time, its price was insignificant, and in 2010, its value became $0.06. Over time, its value started to grow and became $0.30, and at the end of 2011, its value was nearly $6.10. It means the value of bitcoin increased around 2000%, which is also the biggest reason why bitcoin is used in the Dark web that deals in the illegal trade of weapons and drugs.
In 2013, bitcoin’s success took a turn when businesses welcome bitcoin and accepted it at their stores and online. Acceptance of bitcoin by businesses raised the market cap of bitcoin to $1 million. After 2013, the market of bitcoin dropped, and many people lost their funds. When bitcoin’s growth exploded in 2017, individuals and large investors came forward and invested in Bitcoin. In 2017, bitcoin’s price raised heights, and bitcoin investments made by investors made people millionaires.
Advantages of investing in Bitcoin
Bitcoin is often referred to as Digital Gold, and it is a great store of value that people are eager to invest in bitcoin. People who can’t afford to invest much in bitcoin get the chance to invest in small fractions of bitcoin as bitcoin is divisible and can be divided into tiny fractions. Another best thing about Bitcoin investment is that it offers high returns on investments to investors you can’t get from other investments. Investing in bitcoin is easy and straightforward, and you don’t have to provide any personal details of yours or sign an agreement.