Why everyone should own a little Bitcoin

Digital currency is the way of the future and many believe that Bitcoin is going to be a major role player. Bitcoin is not controlled by the government, it is controlled by the people. This makes it more difficult for those in power to manipulate Bitcoin for their own gain or agendas. Words like ‘disruptive technology’, ‘innovative’, and ‘future proof’ are often used when describing Bitcoin and other cryptocurrencies.

The benefit of cryptocurrencies, like Bitcoin, is that they are global. This means they have the same value in every country, making it much easier to transfer from person to person across the globe, without having to factor in exchange controls and regulations.

There are no investments that are completely risk free. It is the same for cryptocurrency investing. Bitcoin is highly speculative and the price of Bitcoin can also be volatile. The decision to invest in Bitcoin comes down to your personal appetite for risk. One also needs to take a long-term view. There are many experts in the field who predict that the price of Bitcoin has the potential to go through the roof in the next few years. 

More recently, experienced investors have started to view Bitcoin as a safe haven. A safe haven is an investment that is expected to retain or increase in value in spite of market turbulence. Safe havens are sought by investors to limit their exposure to losses in the event of market crashes or downturns. Another safe haven is gold.

While Bitcoin and gold may seem worlds apart – they do share some common characteristics. First of all they are both scarce. So, just as gold is considered a rare resource, the supply of Bitcoin was purposely limited to 21 million to increase its value. Secondly, just as one mines for gold in the ground, individuals also digitally mine for new Bitcoin using powerful computers. Both these assets are not affected by banks or local governments, making them attractive investments during global turmoil such as the COVID-19 pandemic.

Bitcoin’s popularity has definitely escalated in 2020. One reason cited for this rise is that people are concerned about the American Federal Reserve Bank’s unabandoned printing of money as part of the government’s quantitative easing strategy and the impact this will eventually have on inflation and the devaluation of the US Dollar and other currencies. Even well-known investors such as billionaire Paul Tudor Jones and ex Prudential CEO George Ball, as well as companies like JP Morgan Chase who previously spoke out against Bitcoin are changing their views and getting into Bitcoin. One thing is for certain, Bitcoin is changing the way we think about money and is growing in importance and use as a financial instrument. 

If you currently hold the opinion that Bitcoin isn’t worth owning, here are 8 reasons to reconsider:

  • It is outperforming every mainstream asset class for 2020 thus far – outpacing gold, silver and crude oil.
  • The fact that Bitcoin uses blockchain technology and is not centralised or controlled by any government or bank, makes it less vulnerable to security threats and more resilient and efficient.
  • The future is paperless and digital and there is no other electronic cash system in which your account is owned by you.
  • Industry leaders and investment veterans are buying Bitcoin and a whole lot of it too! American billionaire investor Paul Tudor Jones recently invested 2 % of his portfolio into Bitcoin, describing it as a hedge against money-printing and inflation.
  • Portfolio diversification is crucial and neglecting Bitcoin could be an expensive mistake long-term.
  • Bitcoin makes it possible to complete international transfers instantly and without third-party fees. This is particularly important for business owners operating globally.
  • All that’s required to perform transactions with Bitcoin is a smartphone with internet access – a big advantage in developing countries where traditional banking is lacking or underdeveloped.
  • The cryptographically encoded 21 million cap on Bitcoin makes it inflation-resistant, giving it a major advantage over traditional currencies. Remember what hyperinflation did to countries like Venezuela and Zimbabwe?

Check out our Team Bitcoin website or Facebook page for more information about Bitcoin and how to grow your Bitcoin with Mirror Trading International.

This article was published on 15.10.2020 by Nicky @ Team Bitcoin
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