Should you invest in bitcoin? That is the topic of this following article. Please note that these are suggestions only, and if you are dumb enough to lose your life savings because you blindly trusted something you read on the internet (here or otherwise), then we are not resposible, and frankly you deserve it! Now that thats out of the way, we can begin.
Investing in bitcoin, is it a no brainer?
Everyone who is interested in personal finance should definitely look into bitcoin and spend at least a couple of days studying it. Because if you do, you will realize something: this is an all or nothing long-term investment that everyone who has a penny to spare should definitely make!
Why is that, you ask? Well, because in the long term (read: 5+ years), bitcoin will either a) disapper completely or b) reach a mass adoption stage where it’s price will get to ridiculous heights. And as more and more time passes without it being stopped and just growing stronger even while facing strong resistance from governments and banks, the latter is looking more and more likely.
The effect of this will be that those who invested in bitcoin early, and then had the sense to hold them for a long time, will reach tremendous amounts of wealth. Those who didn’t will just be left behind. Putting even 5,000 dollars into bitcoin today, and then burying it, might make you a millionaire in the future.
Therefore, everyone who can afford to make that investment really should do it. Which is more valuable to you; the possibility of becoming a millionaire with no work and a low investment, or the security of keeping a measly 5,000 in your pocket?
And if you do invest, please try to restrain yourself from spending the coins in gambling websites or worse, useless material goods. This should be a long term investment!
Please note that this article discusses the long term investment potential of bitcoin. Short term gains and marigin trading of bitcoin and other altcoins is a completely different game, and may be discussed later in this blog.
Thank you for reading, please share your comments if you think you have something valuable to say!