Sirwin
Sirwin

Bitcoin becoming more like a pride than investment

By Bala | Bala | 20 Feb 2021


There are many big investors looking forward to investing in Bitcoin. After Elon Musk's tweets, many companies have started investing little by little. There are still billionaires like Bill Gates who hate Bitcoin and want it to be removed from this world. But that is something that can never happen in my opinion. Only for those who are in this crypto world, this would make any sense.

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There are also misconceptions about Bitcoin. The Indian government is considering popular cryptocurrencies like Bitcoin and ETH as private cryptocurrencies. This is not true. I wouldn't blame them so much but the problem is they lack fundamental knowledge about decentralization and how this all works. Once that becomes familiar, I guess the knowledge and use cases around these cryptocurrencies would start increasing.

I was surprised to see that my bitcoin holdings on a few of my exchange wallets started showing more than 50$. Then only I realized that after this biggest pump Bitcoin had recently, even the dust that I had turned out to be a decent value in exchange accounts. Today buying Bitcoin may not be an affordable thing like how it used to be 5 years ago but holding them is definitely going to make a difference in another 10 years or even more than that.

It will be no wonder to even see Satoshi at dollar equivalent value in another 20 years down the line. Today we might find it funny to imagine Satoshi value hitting dollar price but nobody would have imagined BTC would hit the current price around 10 years back when they used it for purchasing Pizza.

Pride than investment

People would consider this more like pride than investment in the future. Today we see many billionaires holding full Bitcoins. Small investors are holding only Satoshi. This is all because the supply of Bitcoins is definite. There is only a definite number of Bitcoins available in this world and a percentage of it will also vanish from supply because people lose accounts, forget the wallet keys, die without sharing wallet details with anyone, etc. In years down the line, these factors will reduce the value and hence increasing the price gradually when more people come in.

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The current price is not affordable for many people. After some point in time, they just keep their holdings safe in the wallet and stop trading due to high prices. The focus will be on other altcoins. But it will take many years to reach there so the current price I feel is still a good value to invest and keep a little. Even if the price goes down, it will again be a great opportunity to purchase and hold. For trading, I wouldn't recommend BTC even though it has good price fluctuations.


 

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Bala
Bala

Developer | Writer | Blogger | Gamer | Blockchain Enthusiast


Bala
Bala

This is my general blog. I share different articles I write every single day.

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