What is Bitcoin?
It’s a new age currency that can be used to buy and sell stuff.
It’s a financial asset, just like, for example, a block of gold (only thing it’s not a block i.e. physical. Instead it’s digital).
That’s it. It needn’t be technical (although I will write a more detailed article on what it is. The technical stuff). But this is all you need to know. Have you ever asked yourself, “Where did the dollar come from?,” “Where does the Euro get its value from?”. Most probably not, right. So why the WHAT, WHY’s and HOW’s for Bitcoin? Doesn’t mean you stay ignorant about it. But we’ll get there
Why should I own Bitcoin?
Check this chart below. That’s the price of Bitcoin over the last five odd years. $100 invested in Bitcoin in Jan 2015 would now be worth $14,500.
This asset class is young. It’s just about 12 years old. Gold has been in existence since centuries. People are just waking up to crypto and its use cases. Did you know you can buy an apartment in Dubai using crypto? Or you can now even buy a Tesla using Bitcoin?
Yes there are going to ups and downs. But which asset class (gold, home, silver) does not. Bitcoin is more volatile. Yes. Cause it’s new.
So ya. A small investment could be something in the future.
- People are still discovering Bitcoin or cryptocurrencies. So everything suggests demand will continue and with demand comes higher prices
- Bitcoin or cryptocurrencies is increasingly enabling you to make purchases
