Why you should buy bitcoin

In present fast times we must learn all the time in order not to finish like petrified dinosaurs. Everything changes because the world experienced an unprecedented acceleration. This also concerns manners of gaining money and storing its value. Cryptocurriences are an excellent example of this.

With this article we begin a series of publications about the fascinating world of cryptocurrencies. You must have already heard about bitcoin. I think you haven’t heard anything good, especially now in January 2019, when the price of this cryptocurrency is plunging on the bottom. It is a fact that within a year the price of BTC fell from the absurd level of $20000 to the level of $3800. And what about it? Do you know how much bitcoin cost in 2015? The average price in the hole was about 250 USD. Today, after drops it costs about 3800 dollars. I used a calculator and it came out to me that it was 15 times more than 3 years ago.

Is it a good investment in your opinion?

In my opinion it is excellent. And what about the fact that the official media say that it’s the end of BTC, that it’s a stitch, that the price will fall to zero. I’ve been following this market for 3 years now and somehow doesn’t want to fall. Yes, the price has fallen 5 times compared to what we saw in January 2018. It is a natural process in trading that the price of an asset that has risen very sharply must at some point fall to normal levels. In my opinion, this level has now been reached around 4000 USD. This is still 15 times more than 3 years ago. On the other hand, it is very possible that we can see a fall in the price of BTC even to the level of 1000 USD. The crypto market is a very young market and is exposed to very large and rapid changes in prices. We have to be prepared for this.

Save yourself now and start saving

 Now I will ask you a question about your future. Would you like to have a good and rich pension? Since you are reading this, I believe that yes. Whether you are 15, 30 or 50 years old, you have already won because you are making an intellectual effort to live a dignified life in retirement. The second and basic question is how you invest in your future wealth. The answer is trivial, but not simple. You simply have to save money. Regularly save money and count on the fact that in the future they will help us to live a dignified life in retirement. Unfortunately, I have to worry about you, because it is not enough. You certainly have a better chance of a dignified life for a retired person than most people, because you want to do something about it and you do not trust the state pension. But saving alone is doomed to failure if you don’t do it in the right way.

Save wisely

The basic issue in saving today is to diversify our savings between different asset classes. Read the article on inflation to understand what I am talking about. Printers all over the world print paper and digital national money, which leads to your hard to collect savings decreasing from year to year. The average drop in the value of money is 8 percent per year. Saving in such a situation in the ordinary currency does not make sense. What to do will you ask consciously. So I am responsible: buy other assets for a part of the money set aside. You should spend part of the money to buy a cryptovalut, because it is an asset whose value will increase much more than any other asset available on the market, such as gold or real estate.  What part of the money to spend on crypto currencies is another issue, which I will discuss in the article on diversification of the pension portfolio.

We have to remember the history

After this little digression about saving we return to the subject of bitcoin. We already know that in January 2019 after the maximum drops BTC costs about 4000 USd. This price is 15 times higher than in 2015. Let’s experiment now and check how much bitcoin cost in 2010. The price was less than one US dollar. Only at the beginning of 2011 BTC reached the level of 1 usd. Now let’s count how many times the price of BTC has increased from the beginning of 2011 to now. The account is simple. It shows that the price has increased 3800 times. Let’s think now, so purely hypothetically, what would have happened if we had invested 1000 usd in bitcoin. I see a smile on your faces. I also feel that your internal sceptical advisor says what about it, since nobody knows the future. If you knew then that the price of BTC would reach 20000 usd, then you would certainly buy BTC for all your savings. This voice is needed because it protects us from capital loss. At the same time it is your enemy, because it made it impossible for you to get rich in an easy way.

No one knows the future

There is no need to be nervous. I didn’t buy bitcoin then either. I’ll say I didn’t buy BTC anymore. I’m just starting now, because its price is attractive. I know people who bought BTC for 100 dollars. I know people who bought BTC for 400 USD and sold it on the hill when it cost 18000 USD. I was a little shocked, but not bad because I didn’t buy bitcoin after 18000 USd when it reached its peak price. And I’m proud of myself because I already knew then that you don’t buy expensive assets. On the other hand, the speculative bubble that arose then on cryptovalutes drew my attention to this topic and that’s why I get to know the fascinating world cryptovalute with a bated breath.

Money 2.0

I have such a rule that I do not invest in anything if I do not get to know the subject in depth. Now I understand that the crypts are the future of payments all over the world. The revolution has already begun. The largest investment banks buy companies that deal with blockchain technology on which the cryptovalutes are based, introduce instruments to invest in the most famous crypto and employ the world’s best specialists in these technologies. If JPMorgan and Goldman Sachs do that, why don’t you do it yet?

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Marcin Jagodzinski

Marcin Jagodzinski

Author and originator of the Wealthy Pensioner website, medical practitioner, author of articles on economic issues, enthusiast of modern technologies, fan of Brazilian culture and a man fascinated by blockchain technology.

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