Bitcoin Bulls are likely to begin based on their statement and after Tesla revealed their purchase of $1.5 billion worth of Bitcoin recently. The same was revealed in an SEC filing report on Monday itself as Cryptocurrency’s price spiked to hit the highest purchase record, which is around $44,000, which has a market value of around $800 billion.
Prediction On The Reports
According to the founder and CEO of Social Capital, Chamath Palihapitiya was given to CNBC’s half-time report on Thursday. The prediction time is unknown yet expected to be five or ten years, but it will spike up real soon. After noticing this hype, many people are still confused about whether they should invest in Bitcoin.
The reason for these rising confusions is something undeniable and practical as a wide range of concerns accompanies Cryptocurrency. Most of the investors perceive the investment as too risky, while some think it’s just a bubble, and some think out of the box of this being complete fraud.
CNBC had a conversation with Bitcoin and Fintech experts about the recent concerns that surround Cryptocurrency.
Can Investment in Bitcoin be too risky for an Average Investor?
According to the expert advice, if they compare most of the investments, Bitcoin becomes a highly volatile and hazardous investment. As stated by one of the editors of Fintech newsletter and contributor at CNBC, James Ledbetter, in his statement to CNBC Make It that the historical price of Bitcoin has spiked on recent occasions and even crashed down quickly and unexpectedly.
The investments in Bitcoins are either about Big returns or Extreme Losses. Investors like Mark Cuban consider Bitcoin a gambling game where one should only invest that much amount of money in affording to lose. Mental and financial preparation should always be there for any crash at any moment.
According to the statement of Pompliano, the co-founder of Cryptocurrency and also a Bitcoin investor. He said that one should do a bit of research to learn about it and then go for the investment. He suggested buying a tiny amount of Bitcoin that is $5 minimum as that will give them the authority to buy fractional shares known as satoshis.
Moreover, a Bitcoin investor himself concluded supporting long-term investments as there is a limited supply of Bitcoin, which will ultimately promote an increase in price in the end with the increase in demand. Careful investment and patience to deal with when investing in Bitcoin, given the market risks.
Most experts advise that they need patience and low expectations when investing in Bitcoin or any Cryptocurrency. Market risks are complicated to take up when it comes to people investing in Bitcoins. Investment in Cryptocurrency for beginners will be a bit challenging. They should first understand Bitcoin investment and Blockchain’s basic concepts to clarify most of their doubts.
Investments in a short amount will be the key to more significant investments for Bitcoin or Cryptocurrency.
Though it is not a cakewalk to gain expertise in cryptocurrency investments, Bitcoin warmly welcomes new investors who are willing to spend time and funds in the industry.