I got into Bitcoin in January of 2017. Since then I’ve dabbled in automated trading platforms, trading alt coins and have experienced a few forking “forks“—those scary things that are always going to tear a hole in the universe or something. However, I’ve always believed in Bitcoin, no matter the speculation and hype associated with forks.
When you look at Bitcoin, there are lots of good things happening and lots of reasons to believe that the future of Bitcoin is promising, and profitable. I always try to take everything into account when doing my analysis—ICOs, new technology, fake news regarding Bitcoin, government regulations and of course forks. In the end though, I’m always banking on Bitcoin, literally.
Companies like Overstock.com, Etsy.com, Expedia.com, Virgin-Galactic, New Egg, Whole Foods and others are all accepting Bitcoin as forms of payment—and countries like Denmark, Sweden, South Korea, the UK and other countries are embracing Bitcoin as well.
Drew Carey, Richard Branson, Ashton Kutcher and even Kim Jong Un are all invested in Bitcoin. Unfortunately though, Kim Jong Un didn’t come into his wealth of Bitcoin in an ethical way (surprise).
Financial institutions are of course recognizing the power of cryptocurrency and specifically, Bitcoin. This is a good sign.
“Bitcoin can hit $7,941 and eventually trade higher.” Goldman Sachs’ Sheba Jafari told CNBC. After news came out that the world’s largest future exchange, CME, will have Bitcoin futures by the end of the year, 100,000 Coinbase accounts were opened in one day.
Tim Draper has $213 million invested in Bitcoin. He is a major believer in the crypto-coin, obviously. He has backed projects such as Hotmail, Skype and Tesla.
“This is the greatest technology since the internet,’’ says Tim Draper about Bitcoin, “This is a sociological transformation, it’s a movement.’’
The writing is on the wall. There are huge backers behind Bitcoin, financial institutions creating financial products based on Bitcoin, major companies accepting Bitcoin as payment and countries adopting Bitcoin as an acceptable form of currency. All of these things signal to me that Bitcoin is here to stay. Yes, Bitcoin will be tested and targeted, but personally, where ever the big guys focus, I will too.