Investment in Bitcoin
Now the most well-known asset of the cryptocurrency market, it was just a decade ago that Bitcoin was introduced as the world’s first decentralized peer-to-peer payment network.
In April 2010, Bitcoin was valued at $0.003 against the US dollar. Any investment in Bitcoin or other cryptocurrencies was considered to be insane.
By April 2017, the cryptocurrency zoomed past $1,300 in value. One month later and Bitcoin surpassed the per unit cost of 1 oz of gold.
In the past six years, Bitcoin has gained notoriety for this tremendous growth in value, and the autonomy and freedom it afforded investors. In 2017 Bitcoin gained over 1,500%, and ushered in millions of investors eager to participate in the cryptocurrency movement. Today, hundreds of cryptocurrencies are transacted every day, with Bitcoin remaining the most widely-recognized and favored.
Bitcoin can be acquired through exchanges or mines. Exchanges allow people to buy and sell Bitcoins using different currencies. Mining Bitcoin is accomplished by miners, the cryptographers and developers who authenticate Bitcoin transactions.
For individuals who choose to invest in cryptocurrency, the favored portfolio balance is typically Bitcoin-heavy.