##12 Reasons to Buy Bitcoin in 2020
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Investing is a serious endeavor that requires comprehensive research, experience, and reasons behind each decision. Popular cryptocurrency proponent Brandon Quittem recently decided to list 12 reasons people should buy Bitcoin.
Performance, Chaos, Curiosity
Quittem firstly outlined Bitcoin’s past performance. More specifically, he referred to the last decade, where the primary cryptocurrency became the best performing asset. As CryptoPotato reported earlier, BTC marked ROI of nearly 8,900,000%, which is considerably more than every other asset.
Although the new decade began merely months ago, BTC is already outperforming the S&P 500, gold, and government bonds again with 30% year-to-date returns.
For the second reason, the analyst noted that “Bitcoin thrives on uncertainty/chaos.” Referring to the chaotic 2020 so far, with the US – Iran tension, the wildfires in Australia, and the COVID-19 outbreak, he said that “Bitcoin was born for this.”
The primary cryptocurrency came into existence during the massive financial crisis in 2008. While it has experienced lots of turbulence in those years and during the mentioned above chaotic events, it has survived and continues strong.
Outside Recognition And Being Fair
For its fourth and fifth reasons, Quittem touched upon recognition coming from the “outside world.” He cited the words of US Congressmen Patrick McHenry, who said last year that there’s absolutely “no capacity to kill Bitcoin.”
Then, there’s the so-called smart money. And Quittem brought up several such investors that have been quite supportive of the largest cryptocurrency by market cap.
Popular hedge fund manager Paul Tudor Jones III recently said that he’s buying Bitcoin to fight the rising threat of increasing inflation rates. Social Capital Founder Chamath Palihapitiya opposed Warren Buffett’s rather adverse perception of Bitcoin and urged people to invest at least 1% in the asset.
Twitter CEO Jack Dorsey has also demonstrated his appeal to BTC previously. Moreover, his personal Twitter profile has only one word written in the description field, and it reads – Bitcoin.
Quittem also said that “Bitcoin is the most fair money,” as it “enables equality of opportunity.” Referring to the decentralized nature of BTC where no central authority operates nor makes any decisions, he noted:
“Everyone can participate in the same monetary system. Let’s end government money discriminating against the poor, minorities, elderly, and helpless.”
Free Speech, Scarcity, And The Roman Empire
“Free speech underpins a free and open society. Bitcoin is money, and money is speech. Don’t like watching governments and central banks bailing out their buddies while mainstreet suffers? Vote with your dollar: buy Bitcoin,” urged Quittem.
While free speech and BTC may not be linked directly, a recent feud between President Donald Trump and Twitter CEO Jack Dorsey highlighted Bitcoin’s decentralized nature once again.
Reason number eight goes to “scarcity,” which is one of the primary traits of Bitcoin. Only 21 million coins will ever exist. Roughly every four years, an event called halving takes place slashing in half the creations of new bitcoins, which ultimately slows down the process, making it even more scarce.
As such, Bitcoin is frequently compared with another asset with a limited supply – gold. However, while no one really knows how much of the precious metal exists, BTC’s maximum cap is a well-known fact.
“Just like the Roman Empire, the US Dollar hegemony won’t last forever.” – reads reason number 9. By digging into history, Quittem pointed out that the monetary base “changes periodically” and “Bitcoin has a real chance of being the next monetary base.”
Although the chances of this seeming rather far-fetched at the moment, if indeed occurs, Bitcoin’s market position and probably price will skyrocket.
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