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Why your investment should be in cryptocurrencies
After the 2008 global financial crises, the first cryptocurrency was released, and it was received with mixed feelings. The first cryptocurrency, Bitcoin, was released to the public in the aftermath of the 2008 financial crisis. At first, it was treated with hesitation. People saw it as a way for the illegal movement of money. But within a short space of time, Bitcoin established itself as an investment asset. Most people, by now, have heard of Bitcoin, even if they may not know how it works. They may also have heard of other cryptocurrencies, such as Litecoin, Ethereum, XRP (Ripple),
or Dash. Bitcoin has increased from 0.00000011 USD in 2008 to over $12,000 per unit currently. A phenomenal increase in value of a staggering 10,909,090,909,091% in under a 12-year period. As a matter of fact, the price of 1 BTC in 2015 was a mere US$ 395.00. That is 3,038% in about 5 years or about 608% per year in under 5 years. Who else can create these kinds of profits without doing anything?
There is a belief that BTC will before the end of this year reach again an all-time high of over US$ 25,000, which is more than 100%, before the end of this year. But what is even
greater news is that BTC, although the pioneer in the field, is becoming outdated in its application, as it has become too slow for what we need it to do and too expensive.
There are also many tokens in the field that are faster, safer and simpler to use, entering the market daily. These tokens are very cheap and have even greater potential than BTC and because they have better applications and functions, the demand will even be much greater than has been seen before. So, the question then is; Why should you invest in cryptocurrency?
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CBI MAGAZINE | August 2020