Many people have become fascinated with Bitcoin, the most popular form of the digital money known as a cryptocurrency. It’s potential and its drawbacks have been endlessly dissected by both technological and financial pundits alike. Perhaps the concerning thing about Bitcoin for investors is that, for as much as it has been discussed, there hasn’t been a correlating interest in buying the coins, save for a brief meteoric run last year. Since that high point, the value of Bitcoins has taken a hit amidst concerns of governmental interference and institutional feet-dragging.
Yet that means that Bitcoin is at a price that is a relative bargain right now. As such, according to Derrick Alling, CEO of the cryptocurrency mining company Atriark Inc., there might not be a better time for reticent investors take the plunge. “What I see in the day-to-day operations of my business are more and more entrepreneurs looking to Bitcoin as a way of funding their ideas,” Alling explains. “I think that it’s only a matter of time before that level of interest is transferred to the average investor, meaning that the value is going to rise and rise fast very soon.” The reasons why aren’t that dissimilar to why it’s a good time to strike with any kind of asset class that has performed well in the past but has hit a rough patch.
Many assets limp along at low value for years upon years, rarely fluctuating much in value one way or another. But Bitcoin has already hit those meteoric heights and achieved a kind of recognition that many brands would love to garner. As a result, it has proven itself capable of reaching that kind of success in the future.
- Staying Topical
Indifference is the absolutely worst condition for any asset. As a result, if people were to stop talking about Bitcoin, it would certainly signal that big trouble was ahead of its value. The fact is that it continues to be on the lips of many people is indicative that it is in no way suffering from that dreaded indifference. If anything, it continues to be a hot-button topic.
- The Bargain Factor
What the top investors understand is that it’s never a good idea to panic. When the rest of the world is waiting for the sky to fall, those investors walk around without an umbrella so that they can see the bargains all around them. Right not, Bitcoin represents one of those bargains.
- Truth Wins Out
Although many banks are leery of how cryptocurrencies like Bitcoin will affect the way that they do business, the public will eventually decide whether or not it’s worthwhile. And the utility and convenience of cryptocurrency will make it hard to ignore in the future. That means that the value of Bitcoin might never be this low again.
Those who are wondering about the future of Bitcoin might be hesitant to jump in at this time. Yet the above reasons prove that timing couldn’t be better for the curious to incorporate Bitcoin into their personal finances.