Bitcoin has been slated as one of 2019’s biggest and best-performing assets.
Compared to other assets, we have gold, which has gone up 17 percent since December the 31st. Stocks have reported 21 percent through the 30th of September. The US Treasury bond has reported an almost historic low, at around 1.6 percent.
On the other hand, we have bitcoin, which finished the third quarter at $8,303 apiece. This is around up to 114 percent. This means that investors who bought a Bitcoin in 2018 would have doubled their investment and then some.
Despite this, there are some misgivings. One of the main criticisms of Bitcoin is the fact that it is a commodity barely a decade old. Plus, it was invented by a group or an individual with the only computer-based knowledge. Said individuals have no knowledge of how commerce and economy works. Should they really be the ones behind one of the biggest commodities today?
There’s also the fact that unlike gold or stocks, Bitcoin is fundamentally valueless. A fluctuating price, the value is essentially dependent on the will of the buyer. It’s a made-up thing, they say.
However, the global economy is slowly stagnating, plus with multiple government bonds with Europe and Japan yielding in the negatives, multiple investors may be giving Bitcoin a keener look.
Signs pointing towards this development have already begun to surface. Pantera Capital, one of the earliest crypto funds, has recently scheduled an event in Francisco in the hopes of attracting new investors as well as catering to old backers. As word trickles out about this development, more and newer faces will show up to this event.
In the end, Bitcoin has certainly proved itself as a valuable commodity, despite the various misgivings people may have. With large increases being predicted, more and more people will take an increase in Bitcoin. Why, just the other day, my father decided to ask me about Bitcoin and whether it’s a good idea to invest. If he now has Bitcoin on the radar, even I can safely predict a major increase in the interest of Bitcoin.