Since its official launch in 2009, Bitcoin has been all the rage among crypto enthusiasts and investors. Backed by a strong use case and peoples’ support, Bitcoin has reached the dominant position it commands today. But being a popular cryptocurrency doesn’t imply the currency is free from volatility. After trading at a peak high of over $ 60,000, Bitcoin has also fallen in value by nearly 40% over recent years. But despite such wild swings in Bitcoin price, it is still an absolute favorite cryptocurrency of many.
Since January 2017, Bitcoin has witnessed a surge of over 4,500% and currently sports a market valuation of a whopping $ 800+ billion. If you’re a seasoned investor with a diversified portfolio, you’ll agree that no other investment can give such high returns. But not to forget, cryptocurrency prices can come slashing down to the ground at the same pace they reach sky-high positions, so trade wisely.
If you’re still very much on the fence regarding investing in Bitcoin in 2022, there’s good news for you. Bitcoin has a long runway planned ahead in 2022, which indicates it’s still not late enough to get hands on Bitcoin. The following reasons make an investment in Bitcoin this calendar year worth it.
Robust Real World Use Cases
Bitcoin has long been touted as a legit store of value, but the cryptocurrency has more potential. It can be used as a viable medium of exchange in real-world transactions, especially in cases where the cross-border transaction costs are significantly higher. Take India, for example. According to Statista, approximately $ 83 billion were sent to the country from overseas workers in the year 2020 alone. The gathered data from the World Bank highlights that overseas workers had to pay an average fee of 5.2% for a $200 transfer transaction, which is huge.
It is for similar cases where the adoption of Bitcoin can make much more sense. Since cryptocurrency knows no physical barrier, it can facilitate such international transactions to developing countries at minimal costs, resulting in much savings on international transfers. Of course, people will need a device to access cryptocurrency, but it is expected it won’t be a problem in the coming years. As more people side with Bitcoin to make their money transfer cheaper, the value of Bitcoin will only increase in time to come.
Continued Institutional Adoption
Ever since its launch, Bitcoin has time and again proved itself as a meaningful store of value. But the claim of becoming the “digital gold” of the crypto world is still far from being achieved. Gold’s total global value stands at around $ 9 trillion, meaning Bitcoin will have to grow at least 10-folds to even stand at par with this precious metal’s positioning. But despite the fact that Bitcoin is yet to achieve its claim of becoming the digital claim, its acceptance among retail and institutional investors is showing no signs of slowing down.
Bitcoin isn’t correlated to any other financial asset, implying its detached market position can offer diversification benefits. The market already has various Bitcoin-focused financial products, making it easier for investors to gain portfolio exposure without directly owning the cryptocurrency.
Besides Bitcoin, you can also consider adding TRON to your portfolio, as it is slowly emerging as a valuable altcoin that could compete with Bitcoin in the coming decade. The current conversion rate of 1 TRON to INR will show you the potential TRON holds and why it is starting to act as a magnet for both retail and institutional investors. As both Bitcoin and TRON show tremendous potential for times to come, it may be wise to own some of them before their prices get out of reach.
Growing Infrastructure of Products and Services
No one can own and trade Bitcoin if the necessary infrastructure to support such transactions is not there. Luckily, the present market has seen a surge in the number of companies offering the essential infrastructure. Jack Dorsey’s Block platform deserves a special mention in this regard. Formerly named Square, the name change indicates the platform aims to focus primarily on Bitcoin in times to come. PayPal also now offers a “checkout with crypto” feature, enabling more people to buy, own, and sell Bitcoins.
Bitcoin has long enjoyed the position of the top cryptocurrency, but the advent of several altcoins is making investors worried. Many feel that the ideal time to buy and own Bitcoin has passed, but the emerging infrastructure promoting the adoption of this cryptocurrency proves otherwise. The creation of seamless on-ramps is needed for greater adoption of Bitcoin, and the rise of companies venturing in a similar direction is showing positive signs.
Get Bitcoins Added to Your Portfolio Before it is Too Late
The entire crypto market is highly volatile, and no one can predict which cryptocurrencies will rise or fall. Bitcoin is one of the fewest cryptocurrencies that has weathered the storm and consistently ranked among the top five cryptocurrencies world around the globe. While wild price fluctuations are normal and volatility is guaranteed, it doesn’t necessarily indicate that Bitcoin’s time is over. So now can actually be the best time to invest.
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