Bitcoin is worth more than gold, but that’s not really news now is it? Bitcoin price hits an alarming new high today as it scrapes the bottom of $10,000. For those of you who missed out on investing in Bitcoin, you should invest in Bitcoin now. The price is most likely only going up from here.
A Little Bit of History on Bitcoin
Back when Bitcoin was worth $0.50, nobody was interested in it. Until it came to the black market known as the “Dark Web”. Once it gained traction, the price went up because it was in such high demand. There wasn’t enough supply to go around and the price rose to somewhere between ~$1,200 a piece before the market crashed. After the market crashed, they were still worth ~$250 a piece up until this year. Earlier this year in May, the prices rose back up to around ~$1,000 a piece and just kept on going.
Why Did Bitcoin Price Rise Again?
Bitcoin prices began rising again because it is becoming a regular currency. Even Amazon is speculated to begin accepting Bitcoin payments soon. Due to this, Bitcoin has been respectable noticed as a new type of investment for people to dump their money on and make more. I myself also looked at it this way, and ended up getting at least a few extra hundred in my pockets.
More people are looking to invest in Bitcoin as hedge funds push Bitcoin prices to this new high. Not to mention the fact that Bitcoin is also an un-traceable, and un-taxable currency. Companies are looking at Bitcoin as a way to avoid the tax man as well. With customers not having to pay the extra taxes for their products and services, companies are able to purchase their items while saving a few bucks. While the companies accepting these payments can also pocket a few extra dollars with their customer purchases.
Obviously Bitcoin has a lot behind it now. All we can do is wait for the next update.