Bitcoin is changing the world, and any Bitcoin believer will rattle off a long list of reasons why cryptocurrency is the future of money. They’re right. Bitcoin is a global currency that addresses modern-day privacy concerns, elevates the unbanked, and shifts the economic power from big banks and governments back to the people.
On top of that, here are a few more concrete reasons as to why Bitcoin is the money of the future (and the future of money)—and why now is the time to buy it.
It performs independently of other markets. When the stock market drops, Bitcoin remains unscathed. That may be a blanket statement, but it’s not an inaccurate one. Of course, that shouldn’t come as a huge surprise. After all, the very creation of Bitcoin came as a response to the stock market crash, the bursting of the real estate bubble, and an overall distrust in traditional money systems. But for today’s investors, that separation correlates to better risk management and a more diverse portfolio.
It’s a great store of value. Is Bitcoin digital gold? We say it’s better. The cryptocurrency has often been compared to gold with good reason: it’s a universal currency that’s not controlled by any one government or entity; it’s difficult to mine; and it exists in a limited supply, which increases its value. And because, as we covered above, it’s not subject to the same inflation as fiat currency, it also doesn’t depreciate, making it an excellent store of value. What makes it better? Unlike gold, Bitcoin is digital. Whereas gold becomes cumbersome in large quantities, Bitcoin is easy to keep and transport in both small and large amounts. 0.25 BTC and 25 BTC can be stored in the same cryptocurrency wallet.
It can’t be confiscated. In many countries, your fiat currency can be frozen by the bank or your assets can be seized by the government with little to no warning. Cryptocurrency is different. It’s not controlled by a central bank or government, which means that if you hold your Bitcoin wallet keys, only you have access to and control over your money, with no government intervention possible.
It’s not controlled by any one entity. The very nature of Bitcoin makes it impossible to restrain. It was created and is controlled by a peer network, with no one government or entity at the helm. Because it is universal in nature, government bans, regulations, and restrictions can only go so far, and at the end of the day, Bitcoin will perform like the force of nature that it is. The blockchain network and the technology behind it will always exist, transactions will be confirmed, and currency will be traded. It’s why so many governments are taking the approach of, “if you can’t beat it, join it.”
It will most likely appreciate in value. The price fluctuations that Bitcoin has experienced in the last few years leaves many people saying that Bitcoin is too volatile to count on. But while price volatility has certainly led to dramatic spikes and drops, most notably in 2017-2018, Bitcoin’s overall arc has followed an undeniably upward trajectory. We can’t say for sure what the price will look like down the road, but we like the pattern so far.