Bitcoin has been on everybody’s radar in the financial world like arn coin reddit for a while now. The cryptocurrency may have originated from an obscure white paper back in 2008 and only became a phenomenon this year, but it is growing exponentially. In order to help you decide whether or not to invest (or keep playing with your Bitcoin) here are 10 reasons why Bitcoin will be big in 2023.
1- Bitcoin is Already Instantly Traded all over the World
This means that you can buy anything anywhere without relying on banks, borders, or even money. People have been paying for goods and services in Bitcoin for years. There are many options for selling goods and services, including websites such as Bitify, which will allow you to sell your goods and services directly to other people (without a middleman).
2- Bitcoin is Becoming Easier to Use Every Day
Every time more businesses accept it, the easier it becomes to use. This has happened at an incredibly fast rate since 2011, with hundreds of thousands of businesses already accepting it. It’s not just internet businesses that are accepting Bitcoin either – you can spend it on a yacht in the Caribbean , pay your gas bill , or even get an apartment in Berlin .
3- Bitcoin is Already Trading at a Discount
Although Bitcoin remains very volatile, its price tends to go up when the media discusses it, and down when nobody talks about it. The value of one Bitcoin currently stands at $1,336 which is already a discount. This discount has only been getting larger over the years.
4- Bitcoin Has Surpassed Gold’s Market Capitalization
This is impressive considering how much gold was used in the production of goods and services in 2011 (1,093 metric tons according to goldprice.org ). A cheaper alternative to gold, Bitcoin’s market cap of $22 billion is impressive by itself.
5- Bitcoin Is Everywhere
You can find it on your smartphone, computer desktop, TV, tablet, and even watch. There is a Bitcoin app for every platform imaginable.
6- Bitcoin Payments Are Legitimate
On Black Friday , online retailers made more money from Bitcoins than they did by discounts. This has happened each time the price of Bitcoin has gone up. Businesses that accept Bitcoin pay their employees in dollars instead of euros or bitcoins , so this is not like a speculative bubble where companies just want to see how much they can get for their bitcoins before selling them off.
7- Bitcoin is a Positive Investment
Like any other currency, Bitcoin has its ups and downs. However, if you are looking for a sure thing, or something you can use to protect your savings from inflation then Bitcoin is the investment for you. This is because the price of bitcoin goes up every single year. There are many people who have made money from this trend, and there is no reason it has to stop.
8- Bitcoin Has Passed by Apple’s Market Cap
The iPhone was one of the biggest companies in the world six years ago, and now the value of all Apple devices reputed to be running on iOS is $123 billion. When you consider all iPhones globally and a purely speculative valuation of their intellectual property , you can see that global smartphone usage and smartphone manufacturers will double in the next 2 years , especially considering how limited Apple is in exporting their products.
9- Bitcoin Can Process More Transactions Every Day Than Visa
Bitcoin’s payment network is designed to allow it to process transactions , and it has been doing this for years and years. The volume of transactions is increasing too, from $15 million a day in 2012 to around $200 million a day in 2013 . In 2015, Visa was used for purchases of goods and services worth $11 trillion. At the same time, Bitcoin users transacted nearly $6 billion worth every day worldwide. In 2021 that number will likely jump up to $19 billion .
10- Bitcoin Is the Future
The price of Bitcoin can drop massively again and again, but once enough people see its value there is no way to stop it from growing. It is a new way to transfer money in an incredibly fast and secure way, with no middlemen whatsoever. You can invest in bitcoin today, even if you don’t understand it, because thousands of companies around the world accept it already.
Summary:
For all these reasons and more, Bitcoin is going to become a major way in which we use money in the next 5 years. You will be able to buy goods and services, send money to your family, friends or business partners regardless of their location. Bitcoin was around before the internet became mainstream, and it is still in its early days. It is a golden opportunity for investors, especially when you consider that the best-case scenario would be a massive increase in the value of Bitcoin making you a lot of money.
