In November 2011, one U.S. dollar would buy half a Bitcoin. Today, that same dollar can only buy about 0.00005 Bitcoin. In other words, the value of a single Bitcoin (as measured in U.S. dollars) has appreciated by 999,999 % in just over a decade. Meanwhile, the U.S. dollar has lost abour 30% of its purchasing power over the same time. Now, it's true that there have been periods in Bitcoin's history where you would have lost your shirt, had you bought and subsequently sold your Bitcoin at the wrong time. Now the price of Bitcoin is still down 70% from its November 2021 all-time high of about $68,000. With a market kap of 21 million Bitcoins, the supply is finite. And the halving of the Bitcoin reward for mining every 4 years, means the supply of new Bitcoin will continue to reduce over time. The same can't be said for the U.S. dollar...And don't forget, the White House recently acknowledged cryptocurrencies as a legitimate and important part of American society and the U.S. economy. President Biden's Executive Order on cryptos makes it clear that the U.S. believes cryptocurrencies are here to stay. And it wants to position itself as a leader in the space. In short, it legitimizes cryptos. So it's important to look at the bigger picture and Bitcoin's long-term prospects, not just its recent performance. BLOCK's (previously called SQUARE) Cash App- may be the most convenient option for doing this. With this popular app, you can start your Bitcoin portfolio with as little as $1 dollar. You should only invest money that you don't need to use right now, and that you can position for longer term investments. Bitcoin is a volatile asset. This makes it a riskier investment than Gold. The value of Bitcoin can fluctuate wildly by the day and even the hour. So you should be completely comfortable with the volatility that comes with it. NOMI PRINS - Editor - ROGUEECONOMICS.COM
