Is Bitcoin profitable?
Proponents of the top running cryptocurrency would suggest you should look at the numbers right now.
William Suberg at Cointelegraph reports today that a full 98% of Bitcoin sold to holders during its tenure in the modern world of finance is worth more now than when it was bought. Another metric that Suberg throws out is that Bitcoin purchase has been profitable on 97.6% of all days since April 2013.
Is this just a fancy way to say that bitcoin is at all near highs? Yes. But it also helps to make the reasons for Bitcoin purchase more concrete to those who know less about this cryptocurrency.
At the same time, Bitcoin acquisition keeps getting easier, partially through the emergence of Bitcoin ATMs on the streets, cryptocurrency tax services and various wallet alternatives. Then there is the attractive interest-bearing setups offered by companies like Cred, where digital assets can outpace equities in terms of “growing your money.”
“Lending and borrowing cryptocurrencies is becoming an increasingly important sub-sector of crypto finance, one that may end up shaping how the underlying assets themselves are valued and priced in the markets,” writes Christine Kim at Coindesk. “While still in its infancy, the growth of crypto lending platforms has given birth to a new type of measuring metric: interest rates, which has the potential to draw in new investors while encouraging the movement of crypto capital out of storage and into markets.”
If all of that isn’t enough, there’s also the insistent prophesying of major Bitcoin proponents like Anthony Pompliano and Max Kaiser that the coin is going to be worth many times its original value within two or three years.
“Bitcoin just hit $10,000,” noted Pompliano in February, according to Cointelegraph coverage of his remarks. “I still think that Bitcoin will hit $100,000 by end of December 2021.”
All of this prods curious traders to do more research on how to get into Bitcoin positions as early investors like the Winklevoss twins provide examples of massive earnings through timely crypto acquisitions.
