Bitcoin has gained significant wealth for many investors since its beginning in 2009. As of June 2020, the cryptocurrency remains the most expensive and widely used digital currency in the world, with a price of around $9,500 per coin according to CoinMarketCap.com.
For those who believe in the long-term success of Bitcoin, the future of this digital currency looks promising. In order to understand why, it is important to take a look at the most important advantages this cryptocurrency has to offer.
The first and most important benefit of Bitcoin is its decentralized nature, enabling anyone to make and receive payments without needing a third party such as a bank to facilitate the transaction. This lack of intermediaries not only makes transactions more secure but also faster and cheaper. Moreover, Bitcoin is immune to third-party interference, meaning no government or other institution can control or manipulate its pricing.
Bitcoin is also backed by strong cryptography, which makes it virtually impossible to counterfeit or double-spend coins. This layer of protection makes it very attractive for investors who want to escape the risks of fiat currencies.
From an investment perspective, Bitcoin has generated remarkable returns in recent years. Since 2011, the price of Bitcoin has increased approximately 1,500 percent, and many expect that this trend will continue in the future. In addition, more businesses and services are adding Bitcoin payments to their payment options, a development that could further fuel the growth of the cryptocurrency.
Finally, Bitcoin holds plenty of potential for growth due to its limited supply of 21 million coins. With a steady increase in demand pulling from a finite supply, the value of Bitcoin is likely to continue to grow in the long run.
Overall, the long-term bull case for Bitcoin looks strong. Backed by a decentralized nature, strong cryptography, significant returns, and a limited supply, the cryptocurrency appears to be a good investment option for those who believe in its long-term success.