Bitcoin was originated in Japan way back in 2008 by an anonymous person named Satoshi Nakamoto. It’s one of hundreds of cryptocurrencies that can be used to exchange goods without the aid of cash.
Edmund Loh foresees the rise of these online currencies, which I also see myself. When Bitcoins were first released, it only cost a few cents. But as of present, it’s now priced at $2,700+ with an all-time high reaching $3,018.54per coin.
Anyways, Edmund states 3 good reasons why people are buying cryptocurrency:
1. It’s HOT – No one knows how much a single bitcoin can be worth in the future (some forecasts guess around $100,000). If you just bought $100 back in May 2010, your investment will already have become $72.9 million by today!
2. It’s Liquid – You can easily convert bitcoin into cash if you need it.
3. It’s a Hedge against Market Uncertainty – Bitcoins and other types of cryptocurrencies are separated from the traditional markets. This makes it a great way to invest some of your hard-earned money instead of putting it in banks.
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