Bitcoin and other crypto-currencies continue to grow in popularity especially after its price exceeded a record $10,000. As this news continues to make headlines, most people can't help but wonder if they've missed the wave. Instead of saying has or no to our question in the title, I'd rather provide some information that will guide you in deciding for yourself.
If you raised this question to renowned authorities in the financial industry, you would get an outright "no... It's lack of evident use besides being an investment vehicle, high volatility and the way its value behaves like a bubble being cited as the warning signs.
Conversely, another thought process may suggest that if you had invested in Bitcoin seven years ago, you would have made millions of dollars in profit. As an investment, Bitcoin's performance has been tremendous, beating any other stock index or stock asset you know.
There is a claim by Bitcoin enthusiasts that figures in the financial industry will stop at nothing to see Bitcoin collapse. Besides, the blockchain technology intimidates their business model. Save the opinions of self-centered experts, reasons, why you may opt not to get involved, are several.
First, is that Bitcoin mining uses tremendous energy which translates to a substantial ecological impact. Aside from the ethical issues, you may deem it a bad investment since it is prone to attacks from various governments as it challenges the autonomy of national currencies. Also, Bitcoin faces the risk of obsolescence if another more energy-efficient and faster technology were to emerge. The predicted dawn of quantum computing is also deemed another threat to Bitcoin.
Bitcoin has skyrocketed in price following the huge numbers of investors it has attracted. This has led analysts to call it a bubble and to predict that it will crash back to realistic levels eventually like in 2013. Speaking of 2013, Bitcoin was valued at around $300. If an investor held on to their coins back then, they are exhilarated now with the 900% increase! If you bought $1000 worth of Bitcoins in 2011 and held them, you would have $43.09 million today.
My advice and parting shot, never invest more than you are willing to lose.