Bitcoin: The Future Asset

bitcoin future asset value btc

The usage and transactions of deals involving cryptocurrency is increasing day by day. With the various modes of digital payments that have been going up because of its secure environment as easier transaction policies. With more and more influential people promoting the use of cryptocurrency, people have started to invest more and more in them. Bitcoin is one of the oldest modes of cryptocurrency that has been circulating in the market. It started with a base value of only rupees 8 and now a single bitcoin costs more than 20 lakhs INR. 

Bitcoin can be a great investment and a secure asset whose value may change but won't come down to its base level anymore. As more and more blockchains are being created each day and more and more people engaging in the mining process. Initially, this mode of cryptocurrencies was denied to be redeemed by the bank. But now some banks who were ahead of their times use bitcoins in the money market to hold a financially stable position in the market. 

Bitcoins are easier to maintain than currency notes. Its main feature is that once secured up to a certain limit, bitcoin won’t be a headache to maintain. It works mostly like that of insurance with the only difference is that it is non-taxable. 

Why Use Bitcoin? 

Here are some of the unique properties that help bitcoin to be a great financial asset. 

● Bitcoin does not exist physically, so your money is always with you as well as kept securely far away from you. 

● No fear of theft or burglary as it's available in online mode only. 

● Partial selling of bitcoin helps you to redeem a certain amount of money that you need at a certain time instead of breaking up the whole amount down which may be kept for saving. 

● Once bought you may forget its presence as it keeps on getting mined and increasing value. 

Bitcoin As An Asset

Financial assets that people keep are often kept an eye on by the Income Tax department. Due to the increasing corruption, officials may frame a false case on some people to seize a lump sum amount from you which you saved for the future. Bitcoin possession doesn’t come under the jurisdiction of any kind of taxes that you pay. 

There are a lot of apps promoting the transaction of cryptocurrency. Some of them are mainly based on blockchain creation and share distribution. Official App which mainly deals with the uses of bitcoin which have an algorithm designed to use your bitcoin and financially increase its value depending on the user if they switch on those facilities. 

As considered by some of the top finance experts, here are some of the reasons why bitcoin can't be called a safe asset. 

BTC Not Currently Considered A Safe Asset

● As the crypto business has not been approved by a large number of governments of different countries, BTC usage is limited to a small percentage of people only currently. 

● Most of the people who like to have risky ventures use a large amount of money on bitcoins. 

● Bitcoins are not considered a stable and reliable source of money as the value of such things may go up or down any time of the day depending on the usage of people on different shares. 

● Bitcoins are not considered your assets and you can't get any loan or mortgage against bitcoins. 

It’s a common thing for most of the banks in their financial market that they do take huge loans and debts in their business. Repayment of such debts or loans is not possible using bitcoins as there won't be any receipt or ID of payment as virtual cash or bitcoins have virtual ID’s. 

Bitcoins Benefits

Bitcoin can be considered a great financial asset to an individual who doesn’t have many transactions throughout their business module. For someone who deals their money in higher currency values and companies which goes through a huge turnover and deals with a lot of money, bitcoin can't be used as an asset. BTC is more of a functional liability of a company that can lose a lot or gain a lot depending on the value of the bitcoin. 

Cryptocurrency Conclusion

An individual point of view states bitcoin is a valuable source of an asset as it can be used by the person whenever necessary depending on market value. But time will tell how more and more users, investors, financial institutions, businesses and governments will treat the blockchain backed cryptocurrency Bitcoin in the coming years.

Bootstrap Business Blog Newest Posts From Mike Schiemer, Partners, & Blog Outreach Services