Is It Too Late to Invest in Bitcoin?

by Andrew McGuinness     Jul 16, 2019

Bitcoin was the first cryptocurrency to hit the market in 2009, and since then has become the most valuable. A lot has happened for bitcoin since 2009, but it didn’t really start seeing substantial profits until fairly recent years. Because of the heights it has reached since 2016 in particular, many are faced with the fear that it’s too late to invest in bitcoin and the regret that they didn’t commit to an investment sooner.

Well, is it really too late? Of course, there are disadvantages faced by those who are deciding to invest now rather than having invested at one of the cryptocurrency’s earlier stages, but the greatest of these disadvantages is mainly the fact bitcoin has become pricier since then. If you are interested in making an investment, it’s better late than never, and sooner rather than later. Here are 4 reasons why it is still a good idea to invest in bitcoin in 2018.

1. Future

According to an analysis by Saxo Bank, bitcoin may apparently reach $100,000 within the time span of 10 years. Claims about bitcoin were made by Saxo Bank before. In fact, 2016 was the year that Saxo Bank predicted the cryptocurrency would make it big by hitting the $2,000 mark within a year’s time. Surely enough, they were right and in May 2017 bitcoin grew enough to hit the $2,000 mark. The future prediction of Saxo Bank is of course only an approximation, but it is a good sign of things to come.

2. Government approval

Japan and the Philippines have started the path for bitcoin’s more expansive government approval by both legalizing bitcoin and supporting its business. Japan’s largest and most well-known companies began accepting bitcoin as a normal method of payment as well.

In India, the government is also taking steps to accept bitcoin as legal tender. It is possible that this will take place in 2018. Even the US, or the Commodity Futures Trading Commission (CFTC) to be more exact, has officially labeled bitcoin as a commodity.

3. Finiteness

March 2017 saw bitcoin finally reaching greater value per unit than gold per ounce. Despite the fact that gold is rare and not particularly easy to find, there is an endless supply of gold in the world. We can never with certainty say that a particular piece of gold is the last that will ever be found in the world. The remaining supply of gold left to be scavenged is unknown by even the biggest experts of the precious metal.

Bitcoin, however, is known to have only a limited reserve of coins. At the moment, there are 16.3 million available to the world. By around 2120, the last block will be mined, and the last bitcoins to ever hit the market will be collected. This will bring the coins up to a 21 million total that will never be surpassed.

But what does its finite qualities actually mean for bitcoin? Well, with something as successful as bitcoin has become, this finite amount of supply usually leads to a greater sense of demand, and a greater sense of demand leads to an increase in price and value.

4. Convenience

The convenience of bitcoin is something unfamiliar to most of us who have only had experience with fiat currencies. Unlike fiat currency, cryptocurrency allows transactions to be fulfilled instantly. Within minutes, your payment will reach its destination. Due to the fact this is a decentralized currency, with no middlemen involved, all transactions are free of charge as well.

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