The controversy of the decade: “Do I invest in bitcoin?”. Bitcoin was created in 2009 under an unknown user. Americans are hesitant to invest with little to no information. Bitcoin is a new form of currency regulated by bitcoin users meaning there is no interaction with the bank or government. Bitcoin makes it easy for anyone to make a transaction through their computer or cellphone. The idea of transferring money digitally is not new. There are many services that can help you transfer money virtually without the need to go to a bank. Services like PayPal or Western Union have been around for years.
When bitcoin first launched in 2009, bitcoin was being sold for $0.29 a bitcoin. It then led to a drastic jump to $28.92 in July of 2011. As of December 4, 2017, one bitcoin costs $11,590.00. Luckily, I was able to invest before the price of bitcoin hit $14800 by the end of December. When I reached out to the Facebook community for opinions, users thought the price of bitcoin was too high and recommend investing when the price drops.
When I asked my twitter followers their opinion on my recent investment in bitcoin, their response did not agree with me.
A worry of bitcoin is that bitcoin does have a meaning or worth. However, you have to remember in 1971, President Nixon ended the ability to convert gold to US dollars. Which ultimately means US dollars don’t mean anything either. Now U.S. dollars are backed up by “full faith and credit” of the United States Government.
One of the first rules of investing is “don’t keep all of your eggs in one basket”. Bitcoin could be another option for those who like to frequently invest.
The future is looking bright for bitcoin. It is becoming more and more recognizable, and I do not see it going away anytime soon. Some people may look at bitcoin as risky, but if you are looking for an adventure, you should invest in bitcoin.
