Bitcoin being the first recognized cryptocurrency is a very popular project with many Government and Institutional investors coming into it's scene and the coin has been experiencing tremendous growth in price and worldwide adoption. Bitcoin being very popular was the cryptocurrency I made use of. Just like me, One thing that caught other people into this project is it's low cost of making transactions and it's value. In this review, I will discuss broadly on Why the price of Bitcoins is sure to rise and my best personal story about the coin
Speaking on why the value of Bitcoin is poised to rise, we can all see that there is increasing interest and adoption of this mainstream cryptocurrency. Institutional Investors like Microstrategy and Massachusetts Mutual companies have been seen buying huge chunks of the coin. I for one was surprised to see that the Venezuelan nation uses bitcoin to process their international shipping's so as to bypass United States sanctions on their country. Increasing use of Bitcoin as a hedge against inflation not just in my own country's local Fiat Naira but many others has been on the rise. There have been many reports that the number of bitcoins being held on crypto exchanges has been recording high lows meaning many investors or buyers of this currency tend to send in their coins to their local wallet to save it instead of buying and selling off for small time profits. It's limited supply and mining difficulty helps to protect its value over time. Taking into account history books, despite bitcoin falling into Lows of $4000 during the beginning of the Corona virus pandemic, in the very same year it has risen to an all-time high and broken that record currently trading at $23000. With increasing interest into this coin, I really doubt any drastic fall in its value anytime. Not a financial advice but bitcoin is a crypto-currency that is best for anyone to hold.
My best personal stories about bitcoin can be narrowed down to two. The first being that of the #ENDSARS protest that rocked the nation of Nigeria early October saw Bitcoin being used as a means of going around the government sanctions placed on the Bank account being used to fund the protest. The use of bitcoin to fund this protest attracted many people to it and increased adoption. And my second best story is actually placed on the value bitcoin reached this month. I purchased the coin during its lows for $5000 and staked them which earned me annual percentage profits and now currently at its present value, I have made more than 4x my investments.
Bitcoin can be said to be more of a blessing than what it was even meant to be. Satoshi Nakamoto will be very proud of what his creation bitcoin has become today. Being the best amongst all cryptocurrencies is not just historical but it's mystical.