If You’re Not Investing in Bitcoin I don’t Know What You’re Doing With Your Life | G-Trade News
Bitcoin–the cryptographic iteration of money, is slowly becoming a household name, as more and more institutions get on board the cryptocurrency train. So, basically at this point, if you’re not getting into bitcoin, then I don’t know what you’re doing with your life.
Bitcoin’s price skyrocketed over the past ten years, starting at a measly thirty cents back in 2009, to where it is now more than ten years later, pushing up around 60,000 dollars. But bitcoin is more than just a price; more than just a quick money-making asset that’s been recently put on the market.
In an article I encountered entitled “Should You Be Tempted to Invest in Bitcoin?”, the author referred to Bitcoin as “a cryptocurrency used by online firms and big businesses worldwide. One of the biggest advantages of bitcoin is that the currency can cross borders easily — facilitating international trade.”
While the tail end of the author’s statement is true, it’s extremely short sighted to reduce bitcoin to a mere investing instrument akin to that of gold, silver or any stock. So, what is bitcoin? Bitcoin is money 2.0. It’s a system that has the technology behind it to liberate people who have little to no opportunities under the current fiat monetary system.
I highlighted one such use case in a recent post I did about the Ethiopian government taking steps to improve the local education system through blockchain–the technology behind bitcoin.
This initiative is going to give roughly five million students a new educational experience via “a Cardano blockchain-based ID that will allow the ministry to track their academic performance”, said minister Mekuria, “and 750,000 teachers will get access to the system.”
There are a plethora of new possibilities when it comes to bitcoin and blockchain, not just limited to education. If you’ve heard of NFTs, something I will address in a later podcast, then you know the mountain of monetary potential present in the cryptocurrency space. So to address the overly reductionist view in the Kiplinger article I mentioned earlier, cryptocurrency isn’t just money–it’s opportunity. Thus, to address the article I touched upon earlier, one isn’t simply investing in a commodity, or precious metal like gold or silver. One is ultimately investing in freedom.
What price would you place on currency that can liberate the world? Something of this magnitude should be priceless, but if we were to place a price on it, it would be right on track with bitcoin’s current price, nestled cozily around $60K. But bitcoin’s price isn’t going to stop there. Projections for BTC are anywhere from 100 thousand, to 1 million in the relatively near future, which it definitely deserves.
So, when you invest in bitcoin, you’re investing in much more than an asset. When you invest in bitcoin, you’re investing in a new money system. You’re investing in true financial freedom for a lot more people than fiat currency ever managed to reach.
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