The ‘CRYPTO’-Sensation !
Buy it. Don’t sell it. HODL it. Enjoy the Power.
Sharad’s Sunday Sojourns (week # 464 | 7th Mar 2021):
“Bitcoin is a technological tour de force.” … Bill Gates.
When I was a visiting research fellow in Melbourne as a part of my doctoral dissertation way back in 2010, one of my then colleagues and a dear friend, over a cup of coffee, first made me aware of something called blockchain, the cryptocurrency and the associated operations and the technology.
At that moment, the value of 1 Bitcoin was around 1 USD!
While I took note, I simply could not understand what value will it generate over the coming years, simply because it was not dumb, rather something too intelligent and fascinating to fully comprehend its true potential! She even tried to persuade me to invest something like just 100 AUD (take note, not USD) on the first ‘child’ of the new movement, i.e., Bitcoin. I denounced the idea! Period.
Come 2021, and post witnessing the fact that just one single Bitcoin touched the $50K (USD) mark last month, I thought (like the majority): “Oh boy, how did I just miss the bus!
But you won’t blame me, would you? After all, who would have thought? I wonder, would the mysterious and the anonymous ‘Satoshi Nakamoto’ (founder of Bitcoin) even got the full glimpse of how big would it eventually become? Maybe so, or perhaps not. Its arguable. What is not, is that despite the recent dodgy and colossal volatility of the market vibrations surrounding the cryptocurrency, it is safe to say that, not in the history of financial transactions globally, has there been such a concept, which will prompt the investor subset, both institutional and retail, to sit up and take note with such agility!
Bitcoin and the imminent successors, for instance Ethereum, are here to stay … is an understatement! Days are approaching when the world will engage in fights over the possession of the crypto superstars, simply because they are resistant to inflation to a great degree, and as a formidable substitute for metals (read gold).
Is Bitcoin a fast way to become rich? Should we invest in it right away, since not more than 21 million Bitcoins should be available to investors ever again, even though the valuation of 1 Bitcoin reach a staggering $1M (USD) figure? I would just ponder caution here, and try to remind myself about the classic fable, that of the ‘rabbit and the turtle’!
One simple assertion is that, despite a 10–20% (almost) monthly ups and downs in the price of Bitcoin notwithstanding, the fact that an approaching 1 trillion USD market cap is now not a hallucination, speaks volumes about its prospects. The impact of cryptocurrency will be even more fondled in developing countries, and I will not be surprised if it ultimately manages to seal off the ‘sharks of wall street’ from unethical biting off of fiscal opportunities, without due credits to the retail investors.
From my humble point of view, do not buy Bitcoin if you want to get rich fast, for sure in that case you will lose a lot of money. Be patient and you will be rewarded. Everyone thinks he or she is going to the next Warren Buffet, but the truth is, he carefully crafted his richness, and was not a destiny’s child in the truest sense of the term, although many would harbor that opinion! Although to be honest, it is difficult to forecast the exact course of market uprising of the cryptos with accuracy, considering its astronomical precariousness, they provide you authority. If you are a ‘Bitcoiner’, you own supremacy! Never disregard that.
Most of us are contemplating the erroneous course (when to buy and sell Bitcoin?). What you should faithfully deliberate is: how to effectively buy and HODL BITCOIN/S before the reserves are over? Take my words for granted: you will benefit in the long term!
