Cryptocurrency — the Inevitable Asset
Bitcoin and other cryptocurrencies are making traditional investments look like dinosaurs.
The growing faith in cryptocurrency is like a radical change in thinking that is beginning to affect the entire world. The soaring prices seen in the past few weeks reflect this confidence and optimism. Cryptocurrencies are outperforming any other investment — and by a long shot!
Bitcoin is the alternative to traditional assets and is almost like a boycott to the current financial system. Since there are no central regulators within any cryptocurrency, participating in the frenzy is like rebelling against government and central authority. The timing of the popular arrival of Bitcoin coincides perfectly with the pandemic — people are more secluded and self-reliant. Cryptocurrencies are entirely up to the individual user, there’s nobody there to help, you’re on your own. It seems like the emergence of Blockchain technology and cryptocurrencies is setting people up with more autonomy than ever before, and people are encouraging this theme.
The theme of cryptocurrencies is that they are a democratization of society. They are a boycott against the norm: extremely low bank interest rates, high transaction costs, the wealthy traders on Wall Street, the idea of having to work for years relentlessly to afford a car or home. Alternatives of cryptocurrencies seem ancient. Think about the traditional places to put money: savings account, stocks, bonds, gold, derivatives, and maybe real estate. Each one of these investments types have their drawbacks; and none of their return rates are enticing anymore — especially for the younger generation.
Bitcoin and other cryptocurrencies are also a protection against inflation. Since the United States has printed so much money throughout the pandemic, people are frightened that their savings will not go as far in the future. Inflation is already being reflected in the price of gas, and many people agree that it will become worse. Many believe that cryptocurrencies will protect them from the inflation caused by money printing.
Therefore, Cryptocurrencies are an inevitable asset because they continue outperform traditional assets and are a lot more convenient and accessible. The growing popularity of Crypto is healthy for democratization and to challenge the traditional financial system. As Bitcoin and others continue to gain momentum, it would be foolish to stay on the sidelines. People will inevitably realize the benefits and applications of the new technology, and as they begin to partake, it will continue to grow the entire system.