But will it always be an investment asset?
Bitcoin: The Original Cryptocurrency
The concept behind Bitcoin and all the cryptocurrencies is not just innovative; it’s revolutionary. The cryptocurrencies came out as a global currency, a genuinely borderless monetary solution, and as a viable replacement to fiat currency. Not many people understand that one of the most profitable and money-making business is the business of money, i.e., banking. These behemoth financial institutions are usually some of the largest securities in a country’s stock exchange. In Canada, four out of the top ten securities (by market capitalizationare banks).
And crypto, while not exactly an enemy of the traditional banking system has the potential to transform the global landscape. Bitcoin can be the currency of the future, but we can’t say that for sure, and there are a number of reasons behind it. These are just some of the challenges that Bitcoin has to overcome to become something more than a simple investment asset and to become what it set out to be. What’s more is that Bitcoin is facing disruptive challenges within its own asset class.
Many other cryptocurrencies, especially stable coins or crypto tokens that are easier to mine or get validation for, might become more potent contenders as fiat replacements compared to Bitcoin. As the original cryptocurrency and the first of its kind, Bitcoin will always have a place in history, but it might not be able to jump all the barriers crypto is facing by itself. One fact to endorse this idea is that Elon Musk, who will probably take humanity to Mars, has stated multiple times that Mars’ economy will be based on crypto, but he didn’t mention Bitcoin. Chances are, if it comes to this, new crypto might be created just for the first inter-planetary community.
Conclusion
Bitcoin is already much more than merely an investment asset, and you can find many of its viable uses in official site article. But buying Bitcoin in the hopes that it will become something more than a volatile investment asset might not be the smart choice. If you are not getting the fair value of your Bitcoin transactions, the financially savvier choice would be to trade Bitcoin or invest in it and use the profits to secure your financial future.
