Is it too late to invest in Bitcoin?
Bitcoin has taken the world by storm. In February 2021, Bitcoin price surged reaching an all-time high of $58,000. This has brought the world’s largest cryptocurrency into the spotlight for curious investors wondering about its future prospects.
Major fortune 500 companies are looking into jumping on the Bitcoin train and adding it to their payment systems. Among the most prominent leap takers is Tesla, which has invested $1.5 billion in BTC. Following Tesla’s investment announcement, BTC price skyrocketed from $38,000 to over $48,000 in just 24 hours. More companies have invested multiple billions of dollars in BTC within the past year, including Microstrategy, Stone Ridge, and Square.
Over the past decades, BTC has made its proponents astronomical gains. Some early buyers of Bitcoin are now millionaires; but has its value reached a limit? Despite some analysts foreseeing a possible correction to be made to BTC value, other financial experts, such as Ari Paul, CIO and co-founder of the BlockTower Capital investment company, expect its value to continue to grow and generate profit for its investors. They believe that BTC value might even reach 6 figure values in the next few years, as more companies jump on board on the BTC train.
Considering the global changes that the pandemic has brought on, companies are incentivized to invest in Bitcoin as a means to protect themselves from the repercussions of inflation and to hedge currency devaluation risk. With endorsements from multi-billion-dollar companies, Bitcoin is becoming more and more mainstream.
So, is it too late to invest in Bitcoin? Absolutely not.
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