Bitcoin had many ups and downs from the moment of its appearance on the market. For example, the value of Bitcoin was around 19.7 thousand dollars on 17th December 2017. Yet, only 5 days later, the value reduced for around 6 thousand dollars. Currently, the value of the BTC is near 8 thousand dollars (March 11th, 2023)
These value changes have made many people skeptical about this subject. You will also hear some people saying that BTC is nothing more than a complete scam. Yet, is that a complete truth?
The shortest answer that we can give you is that it is not too late to invest in Bitcoin in 2023. However, we are not here to convince you anything. We will give you 5 strong reasons why our statement seems logical.
Anyway, for some people, it is still early to invest in BTC. This industry is new and complex. Because of that, you need to improve your knowledge and education about this subject. Fortunately, many websites like bitcoin-optimizer.com can give you the necessary support.
Enough talking! Let’s see together some of the reasons why it is not too late to invest in BTC in 2023.
The Value of Entire Crypto Is Only a Small Part of Worth of Some Companies
Well, you have probably heard who Satoshi Nakamoto is. For those that do not know, he is the inventor of Bitcoin. This guy is quite mysterious because no one exactly knows who he is. More precisely, many people believe that a couple of people stand behind that name.
Anyway, his or their goal was and still is to replace traditional money with the cryptocurrency. The first move to do that was publishing the Bitcoin’s visionary whitepaper. However, when you look closer, this crypto is still small compared to the money and financial value in circulation.
Currently, the total market cap of the crypto industry is around 300 billion dollars. Well, we believe that you think this is a huge value. However, when you compare it to some current valuations of companies, this is quite a small number.
Let’s use a real-life example. When you look at the values of Amazon and Apple, their value is quite bigger. Despite that, they are not servicing half of the world’s population.
Well, this is the first sign that Bitcoin has a perspective. Imagine that the entire cryptocurrency achieves the ideas of Satoshi Nakamoto. We do not know if BTC will become a new form of money. However, if the popularity drastically starts to grow, then the entire world will start using it. The value of this industry would be incredibly big.
Let’s be more precise. What would happen if the two mentioned companies incorporate cryptocurrency into their system? Trust us; the entire world would change drastically. Some experts even claim it would get to the same level as gold.
Institutional Money Is Still Not Priced In
When we talk about the law, we can say that cryptocurrencies are not yet governed by stable regulations. Indeed, some governments have adopted their law systems to the new payment method. This especially includes the governments of some of the most economically strong countries. Yet, you can find a huge number of them that are still having a debate to define the cryptocurrencies.
You will hear different definitions of BTC and other cryptos. For example, some governments would name it as “currency”, while others will name it as “commodity. Finally, you have a group of governments that disagree with both phrases.
These debates are slowing down the progress of BTC. Many investors are not sure if investing in Bitcoin is a safe invention. Yet, the things in the world are changing in the right direction. We believe that laws are going to change and allow people around the globe to make money thanks to the newest payment method in the world.
The Crypto Industry Has More Place to Grow
Indeed, Bitcoin is the most popular and strongest crypto in the world. However, its power won’t improve if the entire industry does not start to grow. Fortunately, there are enough proves that confirm that this industry is perspective.
First of all, the developers are constantly working on the better optimization of cryptocurrency trading platforms, according to naga.com. For instance, Bitcoin currently requires the Lightning Network to better handle high transaction loads. We can use Ethereum as an example as well. This crypto works on a solution to scaling.
There is another piece of data that confirms the infancy of this industry. Believe it or not, only 36 of the top 100 cryptocurrencies have working products so far. This is a small number, but because of the popularity growth, there is a big chance it will grow.
Finally, the current nature of the crypto world is largely driven by sentiment and speculations. However, things will change sooner or later. The influence of sentiment and speculations won’t have a huge influence as now. The entire market will become more driven by actual progress. When people see that this industry is going in the right direction, they will know it is the right thing for investing.
Crypto’s Potential as a Store-Of-Value in Times of Crisis
This is probably the most important thing on our list. There is one common reason of all citizens of the globe. The financial systems of different countries are not following global trends. Because of that, people are conditioned to use the currency of the country they are from.
This problem completely messed up the development of BTC. Indeed, there are many crypto exchanges out there. However, all of them are only supporting the strongest currencies in the world. Many countries do not still have the chance to involve in the crypto world with their national currency.
That is the first step that governments around the world need to ensure. As we said, things are going in the right direction. If we continue in the same manner, we will get a currency that is not state-owned. Despite that, there won’t be a physical burden to carry. The only thing that people will need is a bitcoin wallet and a private key to store their coins. When you look closer, this can be a store of wealth, especially in periods of crisis.
Because of all these benefits, the demand for BTC will start to grow. That will raise its value and it will attract many new users to buy it and store it.