Bitcoin has taken the world by storm since the day it was launched in July of 2010. After just 10 years, the price of a single Bitcoin has risen from $0.05 to a whopping $1177 as of February 2018 and over $6500 by November. The prices just keep going up, and up, and up! But, is this a risky currency? How exactly does Bitcoin work? As the old saying goes, what comes up must come down. Does it look like Bitcoin is going to come crashing down anytime soon?
After researching the market, it seems as though Bitcoin is only going to go up from here. Will it level off at some point and become a standard currency? Who knows! What we do know as of now is that Bitcoin is becoming increasingly popular. Most people who watch the news have a t least heard of it. Some shops and e-commerce sites are even accepting this popular type of cryptocurrency.
If you’ve ever been hesitant to go forward and make the decision to buy, read further to see for yourself why investing in Bitcoin now before it really blows up could be the smartest financial decision of your lifetime.
Bitcoin Isn’t Just a “Fringe” Currency Anymore
Can you imagine being apart of the first group to have invested in Microsoft? Apple? Or any other product that has completely revolutionized the financial world? That’s exactly what this opportunity is. Bitcoin is being widely accepted online. And not just by small consumer shops. We’re talking major retailers.
If you use WordPress, one of the most popular services in building websites and blogs, they now have apps that allow you to accept Bitcoin integrated into their platform. The power of Bitcoin is insane and it’s a force that’s not slowing down anytime soon. Bitcoin still isn’t wildly popular, however. It is traded, but many consumers still have reservations as most people do when they encounter something new. However, it’s not something to be feared. While there is a chance that your investment can go sour, the chances of that happening with Bitcoin are pretty slim.
Consumers and financial professionals are expelling the idea of having a financial currency backed by a federal reserve. What makes Bitcoin so special is that it’s a cryptocurrency, meaning it has real market value instead of modern currencies (known as “fiat money” which have value simply because the government says so).
PayPal Director Predicts BitCoin Reaching$5-10 Million in Under a Decade
PayPal, a popular form of making and receiving payments, is similar to Bitcoin: it was groundbreaking, consumers were a bit scared, but at the end of the day it revolutionized the payment world. So, as you can deduct, it’s a pretty big deal when one of the directors of PayPal, Wences Casares, makes a prediction that Bitcoin is going to reach $5-10 million dollars in just a matter of years.
From cryptocoinsnews.com, they summarized a speech made at the Consus 2017, where Caseres claimed that:
““the internet doesn’t have a currency and it desperately needs one”, pointing to the world’s most popular cryptocurrency. “The biggest mistake [would] be to buy more bitcoin than you can afford to lose. The biggest mistake is [also] not to own any bitcoin,” he told the gathered audience. “Put 1% of your net worth in Bitcoin and forget about it for 10 years” Casares added, baiting new investors to adopt the cryptocurrency. His speech also included a prediction for the cryptocurrency, where one bitcoin would hit $1 million before the next ten years.
Bitcoin is going to be huge — and is already becoming huge, now. That’s why this CEO and director advised everyone to buy into Bitcoin. WHile there’s risk with any investment decision, it seems as though this one is going to pay off. And it’s going to pay off quite well, too.
If the “PayPal guy” is recommending that you buy Bitcoin, take the advice. Especially due to the fact that Bitcoin is currently in the thousands and will (hopefully) reach the millions is just a few years.
Other Predictions by Jim Cramer in the Millions for Bitcoin
As European banks are frantically buying Bitcoin up while prices still remain relatively low, Jim Cramer noticed this pattern and stated that Bitcoin has the potential soar up to $1 million dollars. Buying into this currency by a body of government (the European Union, at that) is a clear indication that now is the time to buy.
The reason why the European government in buying into Bitcoin is due to some scam companies operating online, taking advantage of customers. The European government, therefore offers a ransom on behalf of the victim in an effort to curb these threats in the short-term.
Our Advice: Buy Bitcoin Now!
With the value of the bitcoin increasing indefinitely, it only makes sense to buy. While we’re not recommending you go full leap and invest your money into Bitcoin, it would be a huge mistake not to invest a good chunk of it now. With the government and top financial executives giving Bitcoin the green thumb, it seems like a good idea to be smart and buy into the currency of the future.
Do you own Bitcoins? What do You think the price will be in 10 years? Let us know your predictions below in the comments.