Bitcoin
Bitcoin has proved that virtual currencies can be successful.
This digital currency is credited for laying the groundwork in the crypto-world. Bitcoin has given us blockchain technology, which in turn has led to the birth of over 1,300 other cryptocurrencies. Blockchain has already raised eyebrows in the financial world.
Bitcoin has emerged as the most sought-after decentralized, secure, digital currency uncontrolled by any central authority. Bitcoin has shown that secure digital payments are possible without needing banks.
Adding to its financial credibility is the fact that governments around the world have showed interest in either legalizing or taxing Bitcoin investments.
On top of that, in 2017, Bitcoin became the only cryptocurrency to have the first-of-its-kind futures. The regulated financial derivatives opened the doors for big money on Wall Street to invest in this digital currency.
However, Bitcoin’s rising transaction costs raised concerns in the community about its ability to become a medium of exchange. This is where it may continue to face competition from other digital assets that claim to be cheaper and faster alternatives to Bitcoin. Yet Bitcoin presently remains the better store of value with incomparable year-over-year returns.
UNSTOPPABLE BITCOIN HEADED TO $50,000?
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From: Michael Lombardi, MBA