Sending and receiving money without limitation is one possibility for Bitcoin users. One Versatile System to Trump FiatĪnother thing Bitcoin has going for it is how it is one complete system to complete all financial tasks. Plus, transporting gold in a convenient manner is completely out of the question. The average person will have zero utility for gold unless they make jewelry or use it to preserve value. It is a store of value, sure, but that is far as its usability in pure form goes. No one uses gold to pay for goods or services these days. People may argue gold is a global currency as well, but they would be mistaken. Cryptocurrency doesn’t require an intermediary service to be used either, as transfers are conducted in a peer-to-peer manner. Bitcoin, unlike gold and other forms of money, allows for global utility. Global Utility ValueĪny form of money can only gain value if it has utility.
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Users are in full control of their money at any given time. Keeping private keys of a bitcoin wallet address secure will ensure funds cannot be taken by anyone else. Interested parties will have to acquire Bitcoin through an exchange or peer-to-peer trading. More importantly, Bitcoin does not need a broker per se. Other than gold, bitcoin is the only store of value to gain significant value since 2009. Since cryptocurrency is not influenced by banks or governments directly, regular markets have no direct impact on Bitcoin. One thing investors may be more interested in is how bitcoin can be used to hedge against economic woes. However, the rate of growth will slow down once the Bitcoin halving takes place in a few days from now. There is a fixed supply of bitcoins, and the majority of them have already been created. But looking at things from a seven-year perspective, the only way has been up.Īs more investors and individuals get interested in Bitcoin, the value per BTC should continue to increase. That does not mean there won’t be bearish trends in the market, though. Moreover, since price volatility has quieted down a bit, downward price pressure is far less frequent than before.
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Due to its scarce nature and the free market, bitcoin has the potential to increase in value. In fact, cryptocurrency is referred to as a store of value these days. Storing Valueįor the longest time, people have seen bitcoin as an investment vehicle.
Even though bitcoin is not a safe haven in the traditional meaning, cryptocurrency belongs in everybody’s portfolio. In these days of financial turmoil and crashing stock markets, investors are looking for safe havens. In fact, bitcoin should be in everybody’s portfolio, according to some experts.Īlso read: Blockchain Technology: Making Smart Guns Smarterīitcoin offers some exciting traits that other investments do not. Investors are looking at cryptocurrency as a valuable portfolio diversification method. Bitcoin has been gaining a lot of positive media attention over the past few weeks.
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