To most hardworking first class citizens, Bitcoin is an interesting financial asset. The attractiveness of its potential is sparked by attention from the media and buoyed by gossip amongst acquaintances, friends and family.
The prospect of Bitcoin as an investment vehicle, as the price more than quadruples from under $900 to over $4000 within a few scorching summer months, begets the question for investors, “if not now, then when?”
As a financial instrument that bleeds blinding innovation, if a monster sized company like an Uber or Amazon were to use on Bitcoin on their platforms then there is no question that the price would surge and new bit-millionaires would be minted.
When it comes to once-in-a-lifetime opportunities it is always good to invest early…as the early bird is usually the one that catches the worm, right?
Here are 10 stunningly smart reasons why now is the right time to invest in Bitcoin.
1. The hardfork can’t stop Bitcoin.
Many people predicted that Bitcoin would be demolished by the occurrence of the hard fork. Come August 1st, 2017, and BTC not only survived the fork but skyrocketed in value in the weeks to follow.
Before the fork many people viewed it as a potential risk. After the fork the price has only gone up. This experiment sort of makes Bitcoin unstoppable, showing that it can not be hindered by other altcoins or future forks.
2. Bitcoin has been alive and kicking for almost a decade.
The story of Bitcoin has been told and retold from countless perspectives, but the truth is that over the life of its existence its value has gone down, then risen and recovered. Back in 2012 Bitcoin seemed like brand new technology, a breakthrough of some sort, but it went off fast due to risky activities and government intervention.
We’ve seen Bitcoin survive through these turbulent times. From a technology and perception standpoint, the risk then was greater than the risk today because now a reputation has been established. It is safer to invest in Bitcoin than ever before.
3. BTC has long term growth potential.
If someone is considering Bitcoin as a long term speculative investment then I believe this is right period for him or her to invest (I am using the word period, not time because Bitcoin can only be invented once).
Like the printing press and automobile before it, this century marks the dawn of cryptocurrency as a legitimate & secure financial instrument. If technological trends are any indication, the price of Bitcoin today will be cheaper than its future price.
4. We are still in the early adopter phase.
Though bitcoin itself is quite popular in some countries, it seems that most people hardly even know how it works. Bitcoin has appeared in newspapers and local media stories, and across Internet forums and chatrooms, but there are still others out there who have no idea about what it is – especially those who could use it most.
Early adopters just now getting into Bitcoin have massive opportunity ahead of them. Now is the time to invest in Bitcoin because it has not yet reached mass adoption.
5. Bitcoin is the first cryptocurrency to come into existence.
Bitcoin has the unique advantage of being the first mover in the field of cryptographically secured digital currencies. Since Bitcoin is built on a system of user trust, as more individuals join and invest in it, the higher the value, and subsequently, price will rise. Being the first cryptocurrency definitely has its advantages.
6. Bitcoin is a deflationary currency.
When the stock, bond and real estate markets fumble, people flock to cryptocurrencies thus driving up their values. Early adopters of bitcoin from 2013 proved this to be true, as many of them became millionaires.
The same thing happened in Cyprus and Greece during their respective fallouts. If we wait to invest when everyone else wants to invest (i.e. during an economic crash), then we might be too late then.
7. Everyone on the globe has access to the Internet and Bitcoin.
More people around the world are not only investing in bitcoin but also using it for business transactions and financial services.
The invention of the blockchain is the true innovation here and it allows people all over planet Earth to send and receive Bitcoins with the security of a Swiss bank.
It has the power to revolutionize how we view and use money. The transparency, flexibility, and security of the blockchain network is another major reason why you should invest.
8. The risk of a looming global war.
In the event of a global war, where financial priorities of entire countries are redirected, the price of Bitcoin will assuredly break barriers, especially if a major nation is involved. In this scenario, Bitcoin would be one of the most coveted technologies in existence as it would allow people to perform anonymous transactions across borders.
9. A strong base of developers and user communities.
Bitcoin enjoys the support of many different types of communities and thus gets the benefit of continuous improvement into its ecosystem. In terms of popularity amongst altcoins, Bitcoin stacks up there quite well for both developer and community scores.
Having attention and trust from all sides will be critical for the successful research, development and marketing of Bitcoin itself.
10. Time is on your side.
The same question was asked by numerous people when the price was at $200. Some decided to wait for the price to go down to $150 for them to buy, but unfortunately it went higher. The lucky ones bought, of course, and the unlucky ones are wallowing in regret (or now profiting from experience).
I am not a fortune teller, nor a licensed financial advisor, so I can not for a fact predict whether the price will go up or down.
Never ever, invest money you can’t afford to lose. Please keep in mind that If you invest, and are unfortunate, you may lose everything. But if you invest and are lucky, who knows how high the price will go.
With the way things are shaping up, it seems the only way you could lose is by not taking any action at all. Happy investing!