- Bitcoin has been one of most profitable assets to date since 2009 and one of the best investments some could argue. Early adopters have been generously rewarded with gains upwards of over 3,000-5,000% on the dollar invested if you invested in the early years of its inception. Some could argue that the Bitcoin glory days are over and that it has already had its prime.
- However Bitcoin is an uncommon investment and should not be compared to traditional investments such as stocks, bonds, or even gold. Bitcoin has several purposes not only as a store of value and investment for some but also as a security to protect against inflation. Some people even use Bitcoin to transfer currency from one country to another country without having to pay traditional banking fees. And even for e-commerce and buying things online. Bitcoin has the chance of a lifetime to be the new Gold Standard for everyday use. If every company worldwide and country worldwide switches from wanting to be paid in USD to be paid in BTC we should see the currency skyrocket past every barrier and have even more value then today.
- Bitcoin is a once every 20 years type of invention that you see to be able to have the opportunity to invest into is amazing. This is like watching the Dot Com boom in the 1980-1990's sky rocket and a tremendous opportunity for everyone.
- A lot of people say that there is no room for gain in Bitcoin because they have not studied the currency or do not understand how it works so come to the conclusion that since it started at nearly .05 cents and today trades at just over $669.50 per coin as I write that it has no more room for growth or there is no more opportunity to gain anything on it. This conclusion is far from true and has no understanding how it works.
- First Bitcoin can only have a maximum of 24,000,000 coins ever that there will ever be in existence. Knowing that this is the maximum coins that will ever be gives this practically a zero inflation rate so there will never be any inflation of the coins like traditional Fiat currency. And every 4 years the production rate at which miners can mine coins will half every 4 years, so every 4 years basically miners will have to sell coins for nearly twice the price per each coin mined to be able to have the same exact amount of profit coming in as was before.
- Bitcoin is ripe to bring profits to more investors. Even though the price per coin is nearly $670 per coin as of today there is still far more room for growth. If you took every coin in existence and sold them all at today's rate of $670 it would be just over $10,500,000,000 for all coins in existence this is a relatively small market cap as compared to other Technology companies like Facebook, Google, Microsoft, Apple etc. All Tech giants mentioned have market caps well over $300,000,000,000 Billion Dollars and Apple boasts a market cap well over $500 Billion. So even if Bitcoin is only worth 1/2 as much as Apple all together this still represents nearly a 2,000% gain in its market capitalization from where it sits today at just over $10.5 Billion.
- Bitcoin is still in the beginning of its gold rush. Just like California had a gold rush in 1850 this is the modern day goldrush for the internet age. Early adopters will profit the most on Bitcoin but late adopters still have a lot of room for growth if this is going to be the new Gold Standard of today! This could even be compared to having the chance to invest in the Dow back in the 1970-1980's when the Dow was in its infancy and trading at nearly 900 points.
- I predict that with each halving we will see a nearly double in the price per coin as miners realize that they need to sell coins for more to keep up with the costs of production. So by 2020 when the next halving is set to occur we should see the price per coin around $2,500-$3,000 Per coin. By 2024 that puts the price per coin at nearly $5,000-$6,000 per coin. By 2028 that puts the price at nearly $12,000 per coin and this could also go up even more with other trigger events such as recessions or global economic turmoil or instability. So by 2032 we could easily see each coin well over $24,000 with trigger events that can occur that put the price even higher. I only hope my writing will help some people have a better understanding of the potential value of Bitcoin and my writing should not be relied upon for making any investment decisions. Please do not use this reading as investment advice. Good luck to everyone invested and long BTC!!!!
possibly. though also relative - what will the value of the dollar be at the time? if the US economy tanks, that $50,000 could be near worthless.
also, depends on what other cryptocurrencies come onto the scene and catch. Bitcoin is THE major contended at this point, but guaranteed won't be the only one - and as other alternatives are growth solid, BTC's uniqueness diminishes and thus might not reach the expected highs based on the current position as the crypto leader.
IIRC its 21 million BTC. Otherwise great stuff!
Your right I need to proof read next time before I post. I am still new to this stuff.
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