I think every person who takes time to learn about Bitcoin has the same initial thought, “If I had only invested in bitcoin a few years ago, I’d be rich.” While this is likely true, this shouldn’t stop you from investing in it now. The next thought that goes through many people’s minds is, “One Bitcoin is way out of my price range.” The quick answer to this is that you don’t have to buy a whole Bitcoin. You can buy a fraction of a Bitcoin. One Bitcoin can be broken up into 1/100,000,000 of a Bitcoin in units called Satoshis or Sats. There is a phrase in the Bitcoin community, “Stacking Sats”, which means to just buy small amounts of Bitcoin on a frequent basis.
This method is commonly referred to as dollar cost averaging in the financial space and it’s a great way to invest in assets that have fluctuating prices. No one knows how far the price will go down or up on a daily or weekly basis, and trying to keep track of the market is a great way to feel overwhelmed. For this reason, I’d suggest setting up a recurring buy on a daily, weekly, or monthly basis through exchanges such as Swan or Strike.
Swan has some great features such as automatic purchasing at intervals and amounts of your choice. By clicking the link and signing up, you will get $10 of Bitcoin right away. Swan has a great education platform with tons of content and a support team to answer any questions you might have. They offer low fees for transactions and they even offer an automatic withdraw feature, which sends your Bitcoin to your hardware wallet when it reaches an amount of your choice. Keeping your Bitcoin off exchanges is rule number 1 for Bitcoiners.
If you don’t have a hardware wallet, I’d suggest either Trezor Model One. Be sure to buy them through their official sites linked here so you know it hasn’t been tampered with. They’re both affordable, secure, and come with clear instructions for the setup that can be done in less than 30 minutes.
Strike is another exchange that runs on the Lightning Network which offers even smaller transaction fees for Bitcoin and has near instantaneous transfers of Bitcoin. For this reason, you can buy Bitcoin here with zero fees! Sign up for Strike here and get $5 of Bitcoin when you do. You can send Bitcoin to other friends on the platform just like Venmo or CashApp as well as send it to your hardware wallet, but they don’t offer an automatic withdrawals feature yet. Since there are zero fees for purchasing through Strike, I personally have an automated daily buy amount through Strike, so that I can be stacking Sats on a daily basis.
Getting back to the topic at hand, are you too late to be buying Bitcoin? The short answer is, No you are definitely not too late to the party. At the time of writing this article, only about 4% of the world’s population even owns Bitcoin. As the value of this technology becomes evident globally for replacing wire transfers, for replacing fiat currencies that continue to be inflated, and for replacing the global financial structures as we know them, this percentage will skyrocket to the majority of the population. Getting involved today is like investing in Apple before they invented the iPhone.
The Four Year Cycle
One disclaimer I’d like to make is that this should be a long term investment, at least 4 years if not more. Prices of Bitcoin in the short term are volatile, but the network undergoes a halving cycle every four years, which cuts the issuance of new Bitcoin in half. This is like saying that every four years, gold miners can only mine half the amount of the gold they could previously. Imagine what that would do to the price of gold when the available supply is reduced by half. For this reason, we can be quite optimistic that with this factor in conjunction with the fact that it is growing in popularity and confidence, Bitcoin will see considerable gains in value over any four year period.
The long-term potential of bitcoin: Why it's not too late to invest
Despite its rollercoaster price history, many experts believe that bitcoin still has a lot of potential for long-term growth. One of the main reasons for this is the limited supply of bitcoin. There will only ever be 21 million bitcoins in existence, and more than 18 million of them have already been mined. This limited supply, combined with increasing demand, will lead to higher prices for bitcoin in the future.
Another reason to consider investing in bitcoin is its growing mainstream acceptance. In the past, bitcoin was often associated with illegal activities and was not widely accepted by merchants. However, this has changed in recent years as more and more businesses, including major retailers and financial institutions, have begun accepting bitcoin as a form of payment. This increased acceptance could lead to more people using bitcoin and driving up demand for the cryptocurrency.
Finally, bitcoin has a strong track record of surviving and thriving in the face of adversity. It has survived numerous setbacks, including the collapse of several major exchanges and government crackdowns on cryptocurrency. Each time, it has managed to recover and continue growing. This resilience, combined with its potential for long-term growth, makes it a potentially attractive investment for those who are willing to take a long-term view and hold onto their bitcoin for the future.
5 reasons why now is a good time to buy bitcoin:
- Bitcoin’s price has been steadily increasing: After a period of volatility, bitcoin’s price has been steadily increasing over the past few years. This trend could continue, making now a good time to buy before prices potentially rise further.
- Bitcoin’s mainstream acceptance is increasing: As mentioned earlier, more and more businesses are accepting bitcoin as a form of payment. This increased acceptance could lead to more people using bitcoin, driving up demand and potentially increasing its price.
- Bitcoin’s infrastructure is improving: In the past, bitcoin’s infrastructure was not as developed as it is now. There have been numerous improvements in recent years, such as the development of better wallets and the introduction of Lightning Network, which makes it faster and cheaper to send bitcoin. These improvements could make bitcoin more attractive to potential investors.
- Bitcoin has a strong track record of survival: Despite facing numerous challenges, bitcoin has managed to survive and continue growing. Its resilience and ability to bounce back from setbacks could make it a more stable investment than some may realize.
- Bitcoin is a hedge against inflation: Some people view bitcoin as a hedge against inflation, as its limited supply could potentially make it less susceptible to inflation than fiat currencies. With inflation on the rise in many parts of the world, this could make bitcoin an attractive investment option.
The history of bitcoin's price: Why there's still room for growth
Bitcoin’s price history has been nothing if not volatile. It has experienced numerous highs and lows, with its value reaching almost $65,000 in April 2021 before dropping back down. However, it’s important to note that despite these fluctuations, the overall trend of bitcoin’s price has been upwards.
In fact, if you had invested in bitcoin just a few years ago, you would have seen significant returns on your investment. For example, if you had bought $1000 worth of bitcoin in 2016, it would be worth over $40,000 today (based on the time of publishing this article). This demonstrates the potential for growth that bitcoin has.
Expert opinions on the future of bitcoin: Why it's not too late to buy in
Many experts believe that it’s not too late to buy into bitcoin and that the cryptocurrency still has a lot of potential for growth. Here are a few reasons why they think this:
- Limited supply: As mentioned earlier, there will only ever be 21 million bitcoins in existence, and more than 18 million of them have already been mined. This limited supply, combined with increasing demand, could lead to higher prices for bitcoin in the future.
- Increasing mainstream acceptance: Bitcoin is becoming more widely accepted as a form of payment, with more and more businesses starting to accept it. This increased acceptance could lead to more people using bitcoin, driving up demand and potentially increasing its price.
- Potential for technological advancements: There is still a lot of room for technological advancement in the bitcoin space. For example, the Lightning Network, which makes it faster and cheaper to send bitcoin, is still in its early stages. As bitcoin’s technology continues to improve, it could become more attractive to potential investors.
The benefits of buying bitcoin now: Don't miss out on the potential for gains
There are a few benefits to buying bitcoin now, rather than waiting for an uncertain future. Here are a few reasons why now might be a good time to invest in bitcoin:
- Potential for price appreciation: As mentioned earlier, bitcoin’s price has had a history of significant price appreciation. If you buy bitcoin now, you could potentially see significant returns on your investment if the price continues to rise.
- Diversification of investment portfolio: Adding bitcoin to your investment portfolio can help diversify your holdings and potentially reduce overall risk. While bitcoin is a high-risk, high-reward investment, it is not correlated with traditional asset classes like stocks and bonds, meaning that it could potentially behave differently in different market conditions.
- Potential for technological advancement: As mentioned earlier, there is still a lot of room for technological advancement in the bitcoin space. If these advancements occur, it could increase the value of bitcoin and make it a more attractive investment.
- Early adoption: Bitcoin is still in the early stages of adoption, and those who get in early could potentially reap the rewards as more people start using it. By buying bitcoin now, you could potentially be getting in on the ground floor of a potentially revolutionary technology.
Listen to Luke Mikic run some quick numbers to estimate BTC’s price in the future. If you have time, listen to this entire interview.
In summary:
The long-term potential of bitcoin: Why it's not too late to invest
discusses the limited supply of bitcoin, its increasing mainstream acceptance, and its strong track record of surviving and thriving despite adversity, all of which suggests that it has potential for long-term growth and could be a good investment for those willing to take a long-term view.
5 reasons why now is a good time to buy bitcoin:
highlights the increasing price of bitcoin, its increasing mainstream acceptance, improvements to its infrastructure, strong track record of survival, and potential as a hedge against inflation as reasons why now could be a good time to invest in bitcoin.
The history of bitcoin's price: Why there's still room for growth
notes that while bitcoin’s price has been volatile, its overall trend has been upwards and that its limited supply and increasing mainstream acceptance suggest that there is still room for growth in the long-term.
Expert opinions on the future of bitcoin: Why it's not too late to buy in
cites the limited supply of bitcoin, its increasing mainstream acceptance, the potential for technological advancements, and potential as a hedge against inflation as reasons why many experts believe that it’s not too late to buy into bitcoin and that it still has a lot of potential for growth.
The benefits of buying bitcoin now: Don't miss out on the potential for gains
discusses the potential for price appreciation, diversification benefits, the possibility of technological advancements, and the opportunity for early adoption as reasons why now could be a good time to consider adding bitcoin to your investment portfolio.
Overall, while there are no guarantees when it comes to investing in bitcoin, now is a good time to consider adding it to your investment portfolio due to its potential for price appreciation, diversification benefits, and the possibility of technological advancements. As with any investment, it’s important to do your own research and only invest what you can afford to lose. BullishBTC has a number of articles, videos, and shared links to help you do your due diligence.
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“Buy Bitcoin, it’s never too late to be honest”
-Arif Naseem
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