As Bitcoin continues to enjoy a year that has cemented its mass-market success, the question remains, is Bitcoin truly a smart investment? The answer, in short, is that it depends on whom you ask. The famed investor and one of the most trusted voices of the investment world, Warren Buffet, reiterated his early sentiments that Bitcoin was a bubble and should be avoided. Though Mr. Buffet has years of experience and is one of the greatest investment minds of the last century, he is ill-equipped to honestly understand Bitcoin. Mr. Buffet comes from a generation that is no longer in the driver’s seat of the marketplace and the younger, more tech-savvy millennials don’t share his sentiments.
The market history of Bitcoin is irrefutable, and though many have claimed similar sentiments about the crypto-currency, Bitcoin has continued to shine and act bullish, regardless. These interesting https://bitcoinplay.net facts on the market history of Bitcoin, tell us that a $100 invested in 2010 would be worth well over $12 million in 2018. This rapid rise is due to adoption rates that are being driven by the new millennial aged investor class that do not see the markets the same way as the generations of past. Here is why Bitcoin is likely to be the reserve currency of the millennial generation and what that means for Bitcoin in going forward.
Millennials Live Online
Millennials and the younger segment of investors are different than our parents and grandparents, due mainly to the internet and globalization. This is the generation that grew up online, and the internet is a key cornerstone to our everyday lives. We spend over four hours online each day just on our mobiles, plus more with our laptops and tablets, and that trend is only increasing.
Conventional Investments Don’t Make Sense to Us
Our parent’s generation spent their lives investing mainly in real estate and commodities like gold or silver, and in today’s marketplace, many of those investments simply don’t make sense to us. Property markets are expensive and tie us to a specific place or region. We prefer the freedom to be able to move and dislike those convention of physical ties. When it comes to the gold market, that was conventionally the reserve investments made by generations past, and millennials simply don’t see the same value in it as our parents and would rather spend our money on tech, travel and life experiences.
Why Bitcoin Works for Us
Bitcoin is an internet-based currency and we trust the internet. We live online, consuming and adopting all things internet-related. For us, Bitcoin is no different. In all honesty, we have lost faith in our governments and the corporations that have corrupted them and feel Bitcoin is something that is not manipulated by those same governments and corporations the way that fiat currencies have been in the decades past.
What This Means for Bitcoin
In theory, Bitcoin is our modern version of gold and we have begun to embrace it as such. Considering that the gold market is worth over $11 trillion USD. Bitcoin’s potential is only at the tip of the iceberg and has the potential to be a huge sector in the coming decades. Furthermore, if Bitcoin were to get just 5% of the conventional gold market valuation, Bitcoin would be worth well over $25,000 per BTC, considering that less than 21 million Bitcoin can ever be produced.