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Do you know why you should buy at least 1 Bitcoin?

  • December 29, 2020

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Do you know why you should buy at least 1 Bitcoin

We explore why you need to buy at least one Bitcoin.

Bitcoin scarcity factor

In order for something to be valuable, it must be insufficient, which means its supply is limited. Valuable metals, antiques, minted coins, and baseball cards are of great worth because they are not enough. On the other hand, digital objects such as photos, movies, and music are plentiful. There is one exception.

Related: Investing in Bitcoin: Things You Need to Know

As far as Bitcoin is concerned, the upper limit is 21 million. Since the bitcoin was made, approximately 17 million have been mined in the past ten years. Until around 2140, the upper limit of 21 million was reached which does not mean that you have 121 years to purchase Bitcoin. If you want to invest in bitcoins you can visit epodcastnetwork.com

The mysterious creator of Bitcoin, Satoshi Nakamoto, designed it so that as the difficulty of mining increases, the number of Bitcoins mined will decrease over time. Of the 210,000 blocks originally mined, miners can get 50 newly created bitcoins per block. In 2012, this number was halved, with 25 bitcoins rewarded per block, and in 2016 it was reduced by half again to 12.5 bitcoin.

The next "halving" will happen in mid-2020. What does that mean? Each dividing expands shortage on the grounds that the number of bitcoins that can be mined declines. In terms of value and investment, scarcity is an important principle. As the next halving quickly approaches, the demand for Bitcoin will increase.

However, what is the difference between Bitcoin and other assets with "scarcity factors" (such as rare metals)? We can use it as a payment system, and we can expect it to be widely adopted, which will increase the demand (and value) for non-statutory currencies.

Increase in bitcoin adoption

Despite recent price adjustments, the global adoption rate of this new asset class is still rising. Compared with different digital currencies, Bitcoin has the most elevated selection rate, guaranteeing trust, and believability.

The selection pace of Bitcoin is increasing at a shocking rate. In 2013, 1,789 shippers acknowledged Bitcoin, and afterward in December 2018, 14,346 foundations overall acknowledged Bitcoin. This is a 700% increase-indicating that the adoption rate is rising and will continue to rise in the coming years.

Numerous people want to use digital currency for daily purchases. As a large number of worldwide associations start to distribute assets to investigate blockchain innovation to concentrate on how it can positively affect their effectively successful organizations, this will get simpler. Many reputed companies like Microsoft, Wikipedia, and Expedia now accept bitcoin payments. At that point there's Facebook. The online web-based media and interpersonal interaction administration goliath uncovered insights concerning its new digital money codenamed Libra. This may come as a shock considering Facebook restricted all-digital money related advertisements a little more than a year prior. I can't help thinking about why?

The mainstream adoption of these major companies signifies that the blockchain is about to become huge. Like the Internet boom, this will likewise majorly affect our everyday lives. This will support a popular view that Bitcoin (and other cryptocurrencies) is an integral part of global business in the future. It is a wise decision to own Bitcoin immediately before mass adoption.

A large amount of money is still pending

As per Bloomberg News, huge institutional gatherings have entered the digital currency race. According to reports, large buyers such as hedge funds have been buying digital coins worth more than $100 million through private transactions. For a long time, "Waiting for institutional investors to embrace cryptocurrency" has been the voice of digital currency enthusiasts, but for most investors, it is too late. For instance, Bitcoin trading products were provided to the customers by Goldman Sachs, the first investment bank. Therefore, this trend is likely to become a reality in 2019.

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