Bitcoin has seen a tremendous price surge of 1,190% in the past five years, despite its volatile nature. The cryptocurrency hit an all-time high of nearly $74,000 in March before experiencing a slight dip. With a fixed supply cap of 21 million, Bitcoin offers a decentralized network that transcends borders and is open to anyone. This unique attribute has attracted a growing number of investors and institutions, leading to a rise in its price.
While some may wonder if now is the right time to invest in Bitcoin, the potential for further upside remains strong. Only 1 in 4 adults in the U.S. currently own Bitcoin, leaving ample room for growth as more people become educated about its benefits. As a store of value, Bitcoin is often compared to gold, with the potential to surpass the precious metal’s market cap in the future.
Looking ahead, experts predict that the price of Bitcoin will continue to rise over the next decade. Dollar-cost averaging into Bitcoin could be a smart strategy for long-term investors looking to navigate the cryptocurrency’s volatility. Ultimately, Bitcoin remains an attractive long-term portfolio holding with the potential for significant returns in the future.