If you are planning to invest in bitcoin in 2021 and are skeptical about it, then you have stumbled on the right blog. Bitcoin has been in the news for over a decade now for both good and bad reasons. While some people think it is the currency of the future, others think that its downfall is imminent. However, bitcoin is making a statement for the later ones with its recent bull run as its breaking it’s all-time highs month after month.
As of today, bitcoin is worth around $59,000 and isn’t looking to stop anytime soon. And if you think its price is already too high, then keep in mind that many people thought the same thing when it was worth $10,000 or even $1000. In this article, I have mentioned a few compelling reasons that will help you understand why investing in bitcoin is a smart decision. Let’s take a look:
BTC Adoption is Skyrocketing
One of the biggest reasons to invest in bitcoin right now is that its adoption is skyrocketing. It’s not just everyday people, investors, or small companies that are adopting bitcoin. It is also attracting fortune 500 companies and other major financial institutions and becoming more mainstream.
The difference cannot only be seen in the number of bitcoin wallets that have been created in the past year, but it is also prominent from the price chart of the cryptocurrency. Last year at the same time, bitcoin was worth less than $6000 dollars, and right now, it is ten times more valuable.
You Can Use it for Online Purchases
Another great reason for adopting bitcoin in 2021 is that now it has applications for everyday people. You can now shop online using bitcoin as there are thousands of merchants online that are accepting payment in crypto worldwide. You can use bitcoin to buy luxury goods online, and guess what? You can also buy a Tesla with it.
This week, PayPal announced that they would allow their customers to use cryptocurrency for online payments, which is a huge step for Bitcoin and the entire cryptocurrency market.
Early Entry More Gains
Believe it or not, if you enter the cryptocurrency market today, you will still be entering quite early. The price of bitcoin will keep on increasing for months to come, and if you invest in it, now you will be getting great returns on your investment.
According to experts and financial analysts, bitcoin will pass $100,000 this bull run and can even go as high as $150,000 before doing a correction.
Too Big to Fail
Today, the market cap of bitcoin is just over 1.1 Trillion dollars, which means more than a trillion-dollar invested in bitcoin alone from all across the world. With so many investors and big institutions investing in bitcoin, it is hard to imagine that it will collapse from here.
There are plenty of cryptocurrencies out there that have attracted billions of dollars from all across the world. But bitcoin is still miles ahead of them and has essentially become the gold of the digital world.