Is Bitcoin A Good Investment?
Many people have the question whether investing in Bitcoin is a good move or not. This question is because of the great talks happening on the topic these days. Of course, the price plays an important role in deciding on this investment, but more than price, you will have to be aware of many other things before arriving at your investment decision. Let us gather some details here:
One of the important factors that drive traffic towards Bitcoin investment is the intrinsic value of this cryptocurrency. It does not hold a real value like other investments like spending on land, silver, and gold. These tangible assets can be sold at any time and they always hold a good value. But, you cannot say that Bitcoin will always have a value and will bring good returns whenever you sell it. Yes, this crypto currency can turn out to be worthless within an instant. Even though this holds true with paper currencies too, their existence has really provided the primacy for the creation of this new digital currency. The faith and the technological advancement have paved the way for this new phenomenon of bitcoins and also other alternative coins.
A quick increase in value:
You might be surprised to know that the value of a single Bitcoin currency rose very quickly in the year 2013 to a record value of $1200 per bitcoin. Can you guess the reason for this hike? The reason was more importantly because of a large number of quick profit speculators jumping on the fresh gold rush. While the world is still trying to identify what it is, the value of Bitcoin has since dropped to less than a half of its high. When general public has a difficulty in understanding about this cryptocurrency, the profits that corporations are making from investing in Bitcoin is something that is astounding.
Companies accepting Bitcoin:
The popularity of this currency can be understood from the fact that some companies are ready to accept it as the currency as against the normal currency that we use in our day-to-day life. Here is the list of the most popular companies accepting Bitcoin:
- Home Depot
- Tesla Motors
- Victorias Secret
It is not going to lose value any time soon:
Yes, Bitcoin is slowly gaining popularity among the general public. So, they will truly understand its value in a short while. This means that it is not going to lose value any time shortly for sure. Until the world gets a complete understanding about this cryptocurrency, its worth cannot be determined in a stable manner.
Is Bitcoin investment the right move?
Let me tell you one thing: This is a decision that you should surely make on your own. But, the thing you will have to remember is that this cryptocurrency remains one of the most speculated and most-watched currencies in the present instance. So, first get a complete understanding of this concept and know what it is used for and how you can exchange it before you decide on investing. Of course, it is a good investment for sure.