3 Powerful Reasons to Buy Bitcoin Now

buy bitcoin now

3 Powerful Reasons Why You Should You Buy Bitcoin Now

In times of extreme panic and uncertainty, people generally flock towards “Safe Haven” assets. Traditionally this has been gold and to some extent, currency-wise, the Swiss Franc. Bitcoin is often touted to be Gold 2.0 and as such the digital version of the yellow physical metal. After witnessing the complete sell-off of all asset classes over the last few weeks, including Bitcoin, many are asking, should I buy Bitcoin now?

1.  Bitcoin Utility hasn’t decreased

Markets operate on supply and demand, price moves based on the imbalance between buyers and sellers at any given moment, which can lead to highly volatile fluctuations in price. The price movements of Bitcoin within the market, if negative, does not necessarily mean there is less utility nor interest in the asset. Based on there being more traders taking the short side and fewer traders taking the buy-side, the price will decline.

This does not mean there aren’t those who are silently accumulating! Smart money recognizes the opportunity. Bitcoin still acts as a medium of exchange, store of value, an immutable ledger, is highly un-censorable and retains other features, too numerous to mention for the purpose of this article.  This is another argument to buy Bitcoin now.

2.  Bitcoin is still Bitcoin

Much of the world will be different after this crisis, many of the current gatekeepers and “rent-seekers” who add little value to our daily lives, but demand a healthy percentage in return, could disappear.

This is not a dramatic statement – when key services supporting any industry can no longer effectively operate, it could result in a chain reaction that could likely cause many ancillary businesses to shut down, supply chains could thus be severely damaged (including monetary). Bitcoin does not rely on 3rd party services to sustain its utility. Remember, price movement aside, even in most dire situations, it is hard to see its utility completely dissipating. In fact, one of its most unique value propositions is that it is anti-fragile, a key strength in a volatile environment.

3.  The Money printing presses are on Fire

Why buy Bitcoin now?  Bitcoin was born out of the 2008/2009 Financial Crisis, largely as a consequence of the overzealous money printing and selective bailouts. Buy Bitcoin now because Bitcoin was built for THE EXACT situation we find ourselves in today – to counteract the insane money-printing taking place globally on an unprecedented scale. It does not take a rocket scientist to realize that this is unsustainable – ultimately there comes a point where money printing becomes utterly pointless. The USD, along with all other fiat currencies are going to be infinitely inflated against an asset, namely Bitcoin, which by its very design, is deflationary!

The philosophy behind Bitcoin was to adjust our time preference, by creating an asset with a known fixed minting schedule, resulting in a maximum supply of only 21 million units. Collective knowledge that there are only a finite amount of available units, encourages us all to rather act rationally now, so that in the future we may reap the benefits. Fiat currencies and the way they are today managed, encourage us to throw caution to the wind and kick the can down the road – PRINT more, LEND more, BORROW moreSPEND more…and hope that the future will look after itself!

Make no mistake, the money printing presses are indeed on fire, working overtime to feed this frenzy! However, Bitcoin is still confirming blocks every 10 minutes on average, minting 12.5 Bitcoin which is completely transparent and verifiable. In approximately 2 months, this schedule will decrease to only 6.75 Bitcoin every 10 minutes whilst governments will likely be pouring more gas into their money printing presses.

Should I buy Bitcoin now?

I will.

Should you buy Bitcoin now?

Do your own research and make up your own mind.

Stay Safe.

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By Wes Carlson – Chief Operating Officer of CryptoFish – 24 March 2020

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