Is Bitcoin Going To Make You Rich?
Bitcoin, a decentralised digital currency so far ignored by the mainstream is slowly gaining strength due to its presence in the American financial regulatory framework, the somewhat unstable financial climate created by the recent Cyprus banking crisis as well as favourable press coverage.
Although previous figures for Bitcoin shares were far from rosy, they are now fairing at the unprecedented height of $195.
A few of Bitcoin-involved hotshots, such as CEO of BitInstant Charlie Shrem, founder of BoostVC Adam Draper and Bitcoin investor Roger Vers believe there are a few reasons why investing in Bitcoin, even at this late stage, might be a good idea.
One of the factors in Bitcoin’s favour is its independence; it does not rely on or depend upon any financial or governmental institutions. In addition, Bitcoin is very similar to gold in terms of currency and investable.
They believe that Bitcoin’s medium and long-term prospect are excellent and as the economy surrounding Bitcoin is growing they believe it will also continue to do so. However, Shrem doesn’t conceal the fact that Bitcoin is a fairly risky investment: “Don’t put in money you cannot afford to lose!”