Could you imagine this question even being a debate five years ago? It seems like yesterday that the share value of a single Bitcoin was as high as $20,000. If you could get your hands on one, you did because it was the best investment around.
Then, the bubble burst as new cryptocurrencies hit the market. As a result, Bitcoin was less and less popular among business owners searching for a quality investment. You may think that the trend is over and it’s time to move on to different pastures, yet you’d be mistaken.
Bitcoin is still a worthwhile investment under these conditions.
There Are Fewer Of Them
One reason Bitcoin’s value skyrocketed in 2016/17 was the realization that it’s a finite currency. Like gold, there is only so much of it you can mine before they are none left. According to buybitcoinworldwide.com, the figure is 21 million, which seems like a lot but isn’t.
As more of them are mined and taken off servers around the world, the price is bound to improve again. It may not reach 2016/17 levels, yet it could be a significant amount depending on how many Bitcoins you own.
You Can Mine Them
Mining is the key to Bitcoin success. Mining Bitcoins allows you to build your investment portfolio and take advantage of any market peaks. Although it sounds challenging, mining isn’t impossible even when awareness of cryptocurrencies is at an all-time high.
You can source cost-effective power and space facilities that include on-site power, cooling, rack space, security, and internet bandwidth at the click of a button. Go and get prices at QuoteColo.com if you want confirmation.
Businessinsider.com says you don’t even need the know-how to mine Bitcoins as outsourcers will set you up with the necessary equipment and hosting equipment.
They Are Useful
Unlike most business investments, Bitcoins don’t sit in a portfolio collecting interest and enhancing your wealth. Instead, it’s best to use them actively. As bitcoin.org points out, you need to secure them and the market is volatile, so it’s safer not to put all your eggs in one basket.
Of course, the main reason to pay and accept payments in Bitcoin is to build your share. Accepting Bitcoins as legitimate transactions is an easier way to collect them compared to mining.
That way, you’ll be ready to cash in if the share value skyrockets. Plus, if you have a large amount, you can trade in some and leave the rest for a rainy day.
It’s A Long-Term Investment
The market may be unpredictable, but that’s a good thing in many ways. This is because investments should be long-term to give the business the best chance of prospering. Flipping bonds and real estate for a quick profit is nice, but it’s unsustainable.
With Bitcoin, you’re likely going to have to wait for a peak, which could take a couple of years. That’s fine because by this point, there will be fewer of them and the demand will be higher, yet it takes a strong leader to resist the urge.
Do you think Bitcoin is a worthwhile investment?
Categories: Interesting Stuff