Bitcoin continues to rise and there seems to be no sign that this upward trend is going to stop anytime soon.
On April 28, 2013, one Bitcoin could buy you a nice pair of sneakers.
As we speak, that same Bitcoin could buy you a decent family car.
So we’re asking ourselves, is it still smart to invest because we haven’t seen its highest value yet? Or are you too late if you don’t own any Bitcoin by now?
We looked for the top 5 reasons why it’s not too late to buy Bitcoin with this new infographic.
Reason #1: Demand for Bitcoin is still growing worldwide
In countries like the US, China and Japan, there are still high increases in Bitcoin buying. Even in less stable economies like Brazil and Venezuela, Bitcoin adoption is rising because people are looking for alternatives for their decreasing national currencies.
Reason #2: Total Bitcoin supply is limited to 21 million coins
That means that if the demand for Bitcoin keeps rising, its value will continue to increase. Opposed to fiat currency where governments continue to print new money that results in inflation.
Reason #3: People with know-how believe in the technology
John McAfee – creator of the antivirus software – predicts that Bitcoin will hit $500,000 within three years.
Bill Gates mentioned in 2014 during an interview that Bitcoin is “better than currency”.
Richard Branson thinks Bitcoin is an economic revolution and is an investor in Bitpay, a Bitcoin payment platform.
American venture capital investor Tim Draper, who made more than $1 billion by investing early in Twitter, Skype and Tesla: “In five years, if you try to use fiat currency, they will laugh at you. Bitcoin and other cryptocurrencies will be so relevant… there will be no reason to have fiat currencies.”
Reason #4: Overall acceptance will push the price
Banks, governments and investors were very sceptical in the beginning, but are now starting to see the value of Bitcoin. Countries like Japan already officially recognize Bitcoin as a payment method. Traditional exchange platforms are getting involved, which can be a big step to faster adoption.
Reason #5: We haven’t seen its full potential yet
Bitcoin isn’t mainstream yet. But most importantly: Bitcoin will evolve. The technology behind Bitcoin is continuously under development to make transactions smarter, quicker and safer. Think of the last SegWit update which opened the door to innovation.
So are you too late? Bottom line: nobody knows. Fact is that there’s a lot of potential that hasn’t been utilized or explored today.
Is it ever too late if you believe in the technology?
Nevertheless, there are no guarantees, since Bitcoin’s price remains volatile. Only invest money you can miss. And keep your private keys safe!
Keep your Bitcoins safe
A hardware wallet is the best choice to keep your Bitcoins safe and sound. The Ledger Nano S is the most sold hardware wallet.
Participate in the comments
Do you have any more reasons why it’s not too late to step into Bitcoin? Or do you believe it IS too late? Let us know in the comments!