Opinion: Bitcoin, A Worthy Investment

Recently becoming the internet’s most talked about coinage, Bitcoin is gaining traction as it’s value soars past $2,200 USD.

*Disclaimer: This is an opinion based article and should not be solely relied on for individual financial/investment advice.

Recently becoming the internet’s most talked about coinage worthy of investment, Bitcoin is gaining traction as the soon-to-be slayer of all physical currency.

With cash on the demise, the first of its kind cryptocurrency has not shied away from assuming the role as an ascendant means to make and spend cash. Originally an idea developed in an extensive research paper under the name “peer-to-peer electronic cash system,” Bitcoin has spent the last eight years of its existence fluctuating in price, recently growing considerably in value. And that right there, that is the sole reason why you should invest in this limited edition global currency – it has the potential to be a fortune in the making. Although Bitcoin is currently underappreciated, in ten years’ time, we all might regret not investing in at least a tenth of one of these computer generated gold coins.

For all those wondering just what exactly Bitcoin is, it’s really quite simple. Aside from being an up-and-coming global empire with no central command center, Bitcoins are a form of digital currency that can be bought and sold in place of any and all physical currency. Think of Bitcoin as a bank, only vulnerable. And at this bank, instead of stashing your cash, you can buy and sell virtual gold coins. It is this digital coinage that can be used to purchase anything on the internet (yes, anything), and as of lately, Bitcoin is now becoming accepted as an offline global method of payment.

Unlike the various denominations international currencies come in, all Bitcoins represent the same value. And that determined value tends to change on a day to day basis. For example, Bitcoin first started to take off in 2011, when one coin was worth about fifty cents. Today, the price of one Bitcoin has skyrocketed, now worth an estimated $2,250 USD, and could be worth hundreds of thousands of dollars once the limited supply is accounted for. However, if you want to buy now but don’t want to drop a couple thousand dollars on a shimmering graphic, you don’t need to invest in a whole coin. Rather, you can buy half of one coin, or even a fraction. Think of it like the stock market – you’re parting with a percentage of money in hopes that it will grow in value. (It’s also wise to note that these estimated predictions are based on an early perspective of the currency’s worth, and are of course likely to change).

Let’s cut right to the chase, investing in Bitcoin is like investing in gold. And the only thing more likely to outlive real gold is digital gold. With the rise of the modern technological era calls for new means to make, spend, and trade money. At the moment, Bitcoin is predicted to make waves in the realms of both finance and the economy. So why is this? Sure, Bitcoins are a novelty – they’re new, they’re performing well, and not to mention, Bitcoins are entirely futuristic. One of the main reasons why this digital coinage has taken off relatively quickly is because of its global acceptance. It is a universal currency that is good in any country, on any given market.

Perhaps the best part of this all is the fact that Bitcoin is still relatively unknown by major businesses and corporations. Because of this, the virtual coins are actually in better standing. Since the limited supply hasn’t been mined in its entirety, everyday people all over the world still have the opportunity to invest in what’s said to be a (somewhat) affordable goldmine. And it’s better to act fast – before the big guys take control and rewrite the rules of the game.

Bitcoin was created entirely on the basis of supply and demand. It is this structure that will help determine not only the viability of this virtual currency, but its estimated growth. With only 21 million coins in existence and an estimated 17 million already accounted for, that only leaves 4 million coins left to be mined. Once all of the coins are mined, new Bitcoins will not be encoded. You will only be able to buy the coins secondhand, and this will most likely be at an astronomical price.

As with any pre-determined investment, there are risks. So make sure to do your research if you are planning to make an expensive financial decision, such as this one.