3 Simple Reasons to Invest In Bitcoin Now
The age of Bitcoin has only just begun. Blockchain-based cryptocurrencies have been around for over a decade. In that time the price has crashed, soared, and everything in-between.
In 2017, Bitcoin had an incredible year, with a bull run that rewarded investors with a 1,350% return and an all-time high price of $20,000. 2018 wasn’t as kind, however. Bitcoin lost 70% of its value, dropping to below $4,000 to close out the year.
Now everyone’s favorite crypto is back. The coronavirus pandemic has created the perfect storm for Bitcoin. With a few strokes on a computer, the U.S. Federal Reserve created money out of nothing. They printed money at an unprecedented rate, which will send inflation soaring.
“What we’re working with now is fake money, a fake measuring rod,” longtime Federal Reserve critic and former Republican presidential candidate Ron Paul told USA TODAY. “It is unbelievable.”
This has gotten Bitcoin investors in a Bullish mood. After it’s crypto’s harsh crash in March, Bitcoin is up 300% and is brushing an all-time high price.
While it has grown considerably, the asset remains relatively cheap with analysts predicting it to reach over $100,000 in 2021. Early bitcoin investors Tyler and Cameron Winklevoss had this to say about the crypto recently:
“We think it will be the best performing asset of the current decade,” Tyler Winklevoss said in an interview with Seema Mody on CNBC’s “Squawk Box” Monday.
“Our thesis is that Bitcoin is gold 2.0 and it will disrupt gold. If it does that it has to have a market cap of $9 trillion. So we think bitcoin could price one day at $500,000 a bitcoin. So at $18,000 bitcoin it’s a hold or if you don’t have any its a buy opportunity because we think there’s a 25x from here,” Tyler expounded.
Now is the time to invest in Bitcoin, and here are 3 simple reasons why.
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