Bitcoins have continued to churn out millionaires in the recent past. From a few cents 8 years ago, a bitcoin is now worth more than $7,000 $15,000. Those who got in early enough have been able to amass insane amounts of wealth. But for those who did not invest early enough, is this digital currency still viable enough to invest in? Bitcoins outperformed the growth of the Russian Rubble, Mexican Peso and the US dollar and made them the most lucrative currency to invest in in 2017.
Can You Make Money From Bitcoins?
Can you make money in 2017 and beyond with bitcoins?
The answer is YES. This is because of the following reasons:
According to analysts, one bitcoin could be worth more than $100,000 in the next 10 years
In 2016, Saxo Bank published a report claiming that by 2017, the value of one bitcoin would have exceeded $2,000. At the time, the currency was trading at $750. The claim was made true when bitcoins exceeded $2,000 in value in May 2017. The same analysts have also predicted that within the next 10 years, the value of a bitcoin will be more than $100,000. This makes it worth investing in. it’s a long term opportunity that one should not let it slip away. If for instance, you invest $1,000 in bitcoins in November 2017, within the next 10 years, your investment will be worth $17,000.
Governments Worldwide Are Slowly Accepting Bitcoins
Japan and Philippines have legalized the use of bitcoins. They have also legalized bitcoin transactions. Most of Japanese retailers now accept bitcoins as a way of legal payment. Some of the biggest retailers that accepted to trade using bitcoins include giants like Bic Camera. This retailer greatly influences the production and consumption of Japanese technologies and consumer markets.
The Indian government has also expressed its desire to work with bitcoins. It has made it clear that it is formulating a regulatory framework that will see the adoption of bitcoins currency as a legal means of settling debt by 2018. It is in the process of establishing a task force that will oversee how bitcoins will be fully legalized. This shows that very many countries are opening up to this digital currency. This, in itself, provides a very lucrative investment opportunity.
We Will Have To Live With Bitcoins As Part Of Our Lives
With time, bitcoins will evolve and we must adopt it. Apart from being cheaper to transact with, bitcoins also offer a myriad of other advantages over the common currency. For instance, when internet was introduced way back in the 80s, so many people were skeptical about it. They did not believe that all businesses and commerce would shift from physical offices to internet networks.
It was very hard convincing people that they would be able to buy plane tickets right from their computers without necessarily having to go to ticketing agents. Nowadays, people cannot live without this great invention. By investing in bitcoins, you are actually investing in the future. Cryptocurrency is not just an investment, but it is becoming a movement that will lead the world to financial freedom.
The Supply Of Bitcoins Is Limited
For the first time in history, the value of a single bitcoin surpassed the value of an ounce of gold in March 2017. Whereas gold is rare, bitcoins are even rarer. The number of bitcoins that will ever be mined will not exceed 21 million. According to this logarithmic release function, the 21 million will be released over a period of 100 years.
As of today’s date, there are about 13 million bitcoins in circulation. This means that over the next 93 years, only 8 million bitcoins will ever be mined. The supply is fixed while its demand is skyrocketing. This only means that the value of bitcoins will forever be on an uptrend.
Bitcoins Hold More Potential Than Other Digital Currencies
There are plenty of digital currencies in circulation. The most popular ones include Ethereum and Ripple. However, these do not pose a threat to the dominance of bitcoins. Anyone can trade bitcoins because it is a very simple process. You just need a debit or credit card, a bank account or even a Paypal account.
Never Too Late To Make Millions From Bitcoin Conclusion
There are so many online digital wallets that facilitate the buying and selling of bitcoins, such as Blockchain and Bitquick. You can also easily transfer your bitcoins without much hustle. The performance of this digital currency is unmatched. This is why its value is very high. Unlike other digital currencies like Ripple, bitcoins are not centralized. There is no government control. Unlike other currencies that are involved with some groups or owners, bitcoins are not owned by anyone. The users do not have to rely on third parties in order to make transactions, neither are there ledger fees.