If you invested $10 in Bitcoin 10 years ago, you would be a millionaire now. Never before could you make so much money in a decade. Is Bitcoin still worth investing in?
Gold Vs Bitcoin
|1 Week||+2.13%||– 1.56%|
|Year To Date||+25.17%||+48.05%|
Amid the coronavirus pandemic that has plunged financial markets across the world, Bitcoin has been on the rise having risen by more than 48% since the start of the year, outperforming gold which is up 25% during the period. Over the last 5 Years, Bitcoin is up by over 400% while gold is up 66% during the period.
Bitcoin, like gold, is becoming stronger as an asset. It protects against inflation. Rabid cryptocurrency bulls claim that cryptocurrency may replace the money at some point. Companies such as Microsoft, BMW, AT&T, Shopify and Starbucks, as well as Unicef, are already accepting payments in Bitcoin. Furthermore, the Swiss city of Zug started accepting the cryptocurrency in 2016. Therefore: Bitcoin is the future of money, the gold of the digital world.
The traditional world would say Bitcoin is digital junk: false! Bitcoin is a decentralized, electronic payment system that works without any central bank. It enables peer to peer faster and cheaper money transfer. In addition, the Bitcoin network is safe. Every transaction is comprehensible and immortalized in the blockchain protocol.
As fiat money loses value mainly accelerated by the global pandemic, Governments can’t print money and create debt forever. Bitcoin could be the solution since its amount is limited to 21 million bitcoins and currently there are about 18.355 million bitcoins in existence according to data from CoinmarketCap.
The global market cap of the world’s most popular digital currency is now over $196 Billion according to data from Bitzlato, a leading peer to peer exchange which charges zero commissions when users exchange cryptocurrency to fiat. The company began operations in 2013 by developing mining equipment, own data centres in various countries, customer equipment hosting, and cloud mining. Three years later, it ventured into an online exchange and created a Telegram-based P2P bitcoin exchange dubbed Changebot.info. In 2018 it rebranded to Bitzlato and launched a full-fledged cryptocurrency platform combining the Telegram-based P2P-exchange, merchant service, mining pool, and secure wallets.