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Five Reasons Why You Should Buy Bitcoin Today

Granted, the months that have followed Bitcoin and Ethereum’s spectacular, headline grabbing 12-week period from November 2017 to January 2018 have been mostly torturous, and the overall cryptocurrency market is in a sorry state, but here are five reasons for staying positive, and buying Bitcoin.

From November 2017 until the start of February 2018, Bitcoin, Ethereum, and various other cryptocurrencies such as Dash, Ripple and Bitcoin Cash were among the most bankable commodities on the planet. If you had spent yours and your families savings on cryptocurrency at the start of 2017, and then cashed in your chips at the end of the year,  it’s safe to say you would never have to work again.

2017 And All That

During 2017, Bitcoin’s value would increase by 2,000%, Ethereum’s by 3,000%. Several cryptocurrency millionaires and billionaires were created, and hundreds of wealthy people are where they are today because of shrewd crypto-based purchases and sales they made during 2017.

However, since January 2018, the cryptocurrency market has been a succession of lows punctuated by the occasional high. This year has seen the industry hit by bad press (what’s new?), undeserved bans (Facebook, Google & Twitter how could you?), cruel and unjust insults (are you listening Buffet & Munger?), and the crushing disappointment of seeing  Bitcoin as a shoe-in for acceptance on to the Nasdaq, only for the SEC suits to snatch it away (much respect to those Winklevoss Twins.)

Despite all of that, investing in Bitcoin – especially right now – is still a worthwhile venture.

Here’s five reasons why:

  1. Bitcoin, Like Gold & Diamonds, Is Finite

As any fan of cryptocurrency knows, a big part of the appeal of Bitcoin or any crypto is that it is not managed by any specific institution. Additionally, there is a finite amount of Bitcoin, 21 million to be exact, of which 17 million are in circulation, with just 4 million left to be mined.

Just like gold and diamonds, when the last Bitcoin has been mined, there’s no more. And because of that, the demand for Bitcoin will always be there, and its price will eventually be extremely high.

  1. Bitcoin Has Been In The Bear-pit Throughout 2018 – And Survived

In the jargon of cryptocurrency, to be a “Bull” is to be supremely confident in Bitcoin and its future, no matter the circumstances. A prime example is Thomas Lee, the Chinese-American entrepreneur who is the co-founder and CEO of Fundstrat Global, and clearly an extremely savvy businessman. No matter how low Bitcoin’s valuation might drop to, Lee is always 100% confident it will rebound and come back stronger.

A “Bear” on the other hand is someone who is negative toward Bitcoin, be they cautious, skeptical, dismissive, or even downright offensive. One of the worst examples of a Bitcoin Bear is multi-billionaire Warren Buffet. 87-year old Buffet is one of Bitcoin’s harshest critics, although he’s a relative pussycat compared to his long-time partner Charlie Munger.

Buffet’s most notorious quote is calling Bitcoin “rat poison squared” which doesn’t actually make much sense, and is pretty weak compared to a Charlie Munger classic like:

“To me, it (Bitcoin) is just dementia. It’s like somebody else is trading turds and you decide you can’t be left out.”

Ouch!

Munger, Buffet, Bill Gates and a whole host of highly influential “Bears” have had six months of saying “I told you so” to anyone who would listen. However, Bitcoin is still alive, and more respected now than at any point in 2017, when its connection with the notorious Silk Road was still fresh in the mind.

Despite a bad run commercially and constant criticism, Bitcoin is still very much alive and kicking, and looking forward to 2019.

  1. Bitcoin Is A Bona-Fide Financial Asset

The Cambridge Dictionary’s definition of an asset is “something valuable belonging to a person or organization that can be used for the payment of debts.”

Bitcoin fits this banner, and yet it is much more. In fact, it could be argued that Bitcoin is the ultimate financial asset. For example, if you suddenly needed to access a large sum of money, yet it was 8 PM on a Sunday evening, what could you do?

The banks are all closed, and even if you have an impromptu garden sale, offering all of your prized possessions for a song, including your Lexus, chances are there’d be few takers.

If you had those funds in Bitcoin, and the individual you wished to transact with owned a cryptocurrency wallet, you would be in business. The transaction would be ledgered on the blockchain, and would be as legitimate as a bank transaction.

You could in fact, quite feasibly carry millions of dollars-worth of Bitcoin around on your person, allowing you to purchase anything you wish, never needing the permission of your bank. This level of financial freedom has only been possible since the advent of cryptocurrency.  No wonder crypto is increasingly favored as the “walking around money” of Russian Oligarchs like Roman Abramovich, Aleksandr Frolov, Aleksandr Abramov and Roman Trotsenko.

  1. Now Is The Perfect Time To Purchase Bitcoin

One day in early December 2017, Bitcoin hit a price close to $19,900. In June 2018, Bitcoin fell to $5,785, its lowest valuation of the year. It looked as if it were about to replicate that figure earlier this week, but at the time of writing this piece it had rallied to $6,373.

The trick is to purchase Bitcoin when it is at a low valuation, and then hold onto it steadfastly until it is truly worth your while to sell. If you have the available capital, you should purchase Bitcoin while it is so cheap. After all, it might never be this low again.

  1. Sooner Or Later, Bitcoin’s Valuation Will Skyrocket

Incredibly, Bitcoin has rode the wave of huge valuations, dramatic falls from grace, always followed by the inevitable climb back to respectability, all off vast numbers of private investors. The lack of major corporate investment into Bitcoin means that it lacks the solid foundations that large amounts of permanently invested money brings.

For now, Bitcoin is at the mercy of individual investors whose moods can be affected positively or negatively by news stories and advice from financial experts and investment “gurus.”

But the longer Bitcoin is the standard bearer for cryptocurrency, and the longer it stays scandal free, the greater the possibility of the inevitable corporate investment, where a major conglomerate will pump billions into BTC, and turn it into a global commodity.

When that happens, those of us who invested significantly into Bitcoin, and had the strength of character to leave that investment alone, will be looking at some serious returns. The bottom line is buy your Bitcoin low, then sit tight, and don’t be tempted to sell, not until 2020!

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