“Is Bitcoin worth it? Is it going anywhere? Am I too late to the party?”
These are good questions worthy of consideration if you take financial growth of assets seriously. Bitcoin, an increasingly adopted form of currency, is considered by many authority figures to be the, “biggest investment opportunity of our lifetime.” It is set apart from other forms of investments because you don’t have to “cash out” on it; you can spend straight from your investment stash. Not only can you spend it, you can send it instantly and with very few fees in comparison to other forms of money transfer.
To figure out if Bitcoin is right for your next investment, consider the valuation over time. Go to any historical price graph, zoom out to 6-12 months (or more) and see how the market has exploded. You may be reading this during a crash; if so, just look what it crashed “down” to in comparison to a mere 3 years ago.
Most Wall Street investors praise a stock that earns 5% per year. As of writing this, Bitcoin has increased … an astonishing 21x over. From approximately $780 USD in December 2016 to a $16,500 in December 2017.
Consider this. With this forward momentum, would a small investment be considered “foolish”? A stock increases 21 times over, with so much more room to grow, would be seen as a ticket to ride!
Those who say, “It’s too late” must consider the adoption rate. The latest figures I’ve read show approximately 0.10 – 0.15% of the population owns and/or uses Bitcoin. Cross-reference that to the use of PayPal … likely 50 to 100x the usage rate.
On paper, if there were suddenly 9 more investors per 1 investor now… where would Bitcoin be? The price might not be exactly “10x” higher because there are many more factors. But there would be 10x more demand for Bitcoin. When something is well-desired by the general population, and when there’s a severely limited supply for that asset, the prices go nowhere but up.
If you want to answer your own question, “Is Bitcoin worth it?” first ask yourself, “Do I see more people next week, or next month, or next year desiring Bitcoin than today?” If so, then it’s a safe bet that this cryptocurrency is worthy of at least a small investment.
It’s better to be proved wrong given solid data than to be proved right as you’re sitting on the sidelines watching everyone else party. Even if you only invest what you can comfortably afford (staving off the marital unrest, of course), you’ll have a front-row seat to enjoy this wild ride.