Investing

BITCOIN CONTINUES TO RISE WITH NO SIGNS OF SLOWING

by Kevin Schoon August 13, 2017
Bitcoin

In 2009 a mysterious person or group under the pseudonym “Satoshi Nakamoto created a peer-to-peer open-software called Bitcoin. This spawned the first decentralized digital currency. What was once thought to be a futile attempt to create a new investment vehicle, has now become all the rave amongst investors new & old. What was once scoffed at has now become an interesting experiment by institutional investors. So why the new-found interest? What has prompted the industry giants to dip their toes in the proverbial asset pool? Well, it’s for several reasons:

Blockchain

Could Blockchain be the new way to secure transactions? Institutional investors seem to think so.

BLOCKCHAIN

What makes Bitcoin desirable, especially to institutional investors and hedge funds, has much to do with Bitcoins technology. Blockchain is what Bitcoin transactions are recorded on. For a detailed explanation of how Blockchain works, read Michele D’Alliessi’s here.

SAFETY NET

With rising tensions between the U.S. and North Korea many are looking digital currency as a means of hedging volatility in the market. During the 2012-13 financial crisis in Cyprus, Argentinians began investing in Bitcoin just in case government officials began confiscating or taxing saving account. Another attraction to BTC is the fact it’s not taxable or can be seized by a third-party.  The latter was an issue at the beginning of the Bitcoin era. Many were using it as a means to lauder money and do other illegal black market activity. Read more about the “Silk Road” here.

BITCOIN APPRECIATION

In April 2013 you could purchase 1 BTC for $91.00. Now just four years later that same bitcoin would be worth 4017.00 (as  the date of this post.) . That is 4314% profit in  just FOUR years!!!!! It’s expected to hit $5000.00  by year-end. Due to the privacy of BTC holders it’s hard to get a concrete number on just how many millionaires have been created. If you’re looking for a great story read about Erik Finman.

Erick Finman

Meet Erik Finman, the teenager who became a millionaire from Bitcoin.

While crypto-currency is becoming the new wave, it’s still an as set that is going to need much more time before it is fully accepted as considered an actual investment vehicle. There is still much to be learned  and ironed out. With that being said, if you choose to pursue such an investment, please make sure to do as much research as possible. Be intelligent, be disciplined, and be steadfast. For more ways to invest your  money read my post here.

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