It is time to take action to buy new currency like bitcoin now.
This piece is a little different from my usual personal development piece but I always felt that as individuals develop themselves, their finances should improve as well. Given the rise in adoption of bitcoin, I do truly it is timely to look at new currency like bitcoin now.
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Bitcoin present a once in a generation chance within digital economy to become wealthy
Money isn’t everything, but it does help with general happiness, and therefore it is important to take note when the economy is changing its perception about Bitcoin.
It is after all non-conventional wisdom that gets you amazing, and often different results from others. Although it does carry some risks due to the high volatility of the instrument.
It has been more 10 years since Bitcoin has been launched in 2008, and it think it now make sense to add them as part of an investment portfolio. We are been watching in the sidelines, but figured this should be right time to buy the new currency like Bitcoin.
Here’s 4 reasons why we should start to take note of bitcoin from on now.
- Bitcoin is limited like Gold
We know about gold, which is physical yellow metal that has been symbol of money since ancient times. The intrinsic value of Gold it is always worth something no matter the situation of the economy. Mostly importantly, it is limited in supply and cannot be printed by governments at will.
Similarly, there is a absolute 21 million Bitcoin that can be mined. This is expected to to be completed in 2140, after which no block rewards will be given to bitcoin miners.
2. Rise of Digital Transformation
Covid -19 just accelerated all global forms of digital payments and it is certain that Bitcoin will benefit from this as well.
It is evident it is that the rise of bitcoin would accelerate in the digital economy where digital payments are the new normal.
There is also an increasingly possibility of not putting the value of money to be decided by a few people, but rather masses. Afterall,leaders can make mistakes about the money and economy and this is proven throughout history. Bitcoin can change that.
3. Bitcoin is becoming mainstream
Blockchain has become mainstream,more people will learn about bitcoin and its potential as an investment. Ultimately this will push prices up. Ultimately, institutional investors and ETF, which has already started, will move into bitcoin, making it truly an asset class like Gold.
As you develop yourself to grow a person, do not forget that we live in a technological decade where there will be AI running most of the economy eventually. If you think AI can change the world, why not blockchain and therefore Bitcoin? There are so many application of blockchain already published on the web, and many of them are sound and ripe to change the world.
An example will be digital degree certificates on the blockchain, which is immutable and easily verifiable.
Bitcoin can be entire cryptocurrency asset class, and it is starting to mark sense after 12 years of price history. From a behavioral finance point of view, it is similar to stock index, where there are a lot of hodlers and does not go to zero. This is unlike the tulip bulb mania which ended very shortly in the 1600s during the dutch golden era.
Traditional investments are stable, but they do not provide the potential returns Bitcoin can return in the coming years. The wide adoption will spark passive trade upwards, like what we see in traditional ETF adoption of S&P 500. There is even futures markets for bitcoin now.
Disclaimer: This is an opinion piece on why everyone should own some bitcoin as a portfolio.The author is not responsible for any financial gain or loss.
P.S How about a 30 second quiz to unblock your money senses? With a better money sense, you will be able to seek opportunities and create a better life.