Should You Invest In Bitcoin Or Double Down On Your Business?
Chris Michael Harris, Entrepreneur
What is Bitcoin? Can you still buy and take advantage of it?
I’m going to tell you today what I do, what I think you can do, and whether or not Bitcoin is an opportunity for you to take advantage of.
A lot of people are scared about Bitcoin because it is a volatile source of investment.
The problem is its bottom-up adoption. It will have to take consumers, merchants and forcing companies from the bottom to adopt this form of payment.
The amount you have on Bitcoin will not be off value, but it would go down sizably quickly. For example, if the government came in tomorrow and say that Bitcoin is illegal and you shouldn’t have any form of cryptocurrency, it can vanish just like that. Thus, Orthodoxy provides a little bit more stability.
Here’s the thing. Right now, the US dollar is more unstable than it’s been in decades. 40% of the current US dollars in circulation were printed in just 2020 alone.
So if you don’t understand inflation, that means that money doesn’t have a value associated with it. Money will be just a paper that’s printed out. When we start printing money and don’t control the rate at which we’re printing it, we create gross inflation, which makes the dollar’s value weakened to such a degree.
Inflation maybe 2% or 4%, a quarter. So we’re grossly understating precisely the inflation rate. It’s sizably more.
We haven’t felt the full effect of COVID19 on the economy near the degree we have yet. In addition to the new administration’s impact and their desire to do a couple of things, we are coming out of such a rough time in our history. The stance on trade with other countries is going to hurt us.
Such hard assets like Bitcoin, gold, silver, and land will become so valuable in comparison to the increasing weakness of the US dollar.
Bet On Bitcoin
So here’s the deal. Regardless of whatever is going on, what you can take home is when you’re betting on Bitcoin. What you’re betting on is you’re betting against the US market.
So even if you invest something in Bitcoin right now, in what tiny amount that you possibly can, it’s still going to continue to go up.
Now, is there a possibility that in four years, we hit a little bit of a cap, and it goes down significantly? Sure, that’s entirely possible, but Bitcoin does have 10 to 12 years of proven track record, and you can look at that now. Look at the trends. It consistently has gone up. Even when it goes down, it invariably is still trending upwards.
So you have a little bit of confidence, knowing there’s at least a decade behind Bitcoin at this point. It is continuing to go up, and it does have a solid, airtight system. As far as the blockchain is concerned, you’re still going to be okay to invest.
What I Do
I’m doing a small percentage of cryptocurrency. The two that I’m investing in are 80% in Bitcoin 20% in Aetherium. The reason for that is I like to see proven track records. I’m not against other coins, and I think those two are probably the most substantial bet.
So if you have 1% to 5% of your investable assets that you want to put into cryptocurrency, think over the coming years, purely based on what’s going on with the Fed, the current administration, and what their proposed plans are.
You’re going to see an extremely unstable market, a significant adjustment, even a recession in the economy, which could only drive the value of all cryptocurrencies, primarily Bitcoin and Aetherium.
Now, I expect one of two things, either I’m going to make good money, or I’m going to lose it all.
You don’t want to sit and not have something into cryptocurrency and look back and say, “This was 2016 all over again, I had the chance to jump in, and I missed it.”
It’s a calculated risk. Do a small percentage of the money that you invest, and ride that up.
I’d recommend for you to diversify yourself and make sure that you are prepared. Don’t put all your eggs in one basket. And watch what’s going on with the Feds and with the government, because what you’re going to see is, as the weakness of the dollar increases, you’ll see the rise of the value of Bitcoin continues, you’ll hopefully be able to do well on that if you control how much you have invested in it.
What about you? Have you invested in Bitcoin? Let me know your thoughts in the comment section below.