Should I Buy Bitcoin? 8 Reasons Bitcoin is a Good Investment in 2023
Although Bitcoin is trading 55% below its all-time high, the world's leading cryptocurrency is up 80% year-to-date. But that begs the question - Should you buy Bitcoin in 2023?
In this guide, we explore the investment thesis for Bitcoin. We examine its price performance, future prospects, and the key reasons why Bitcoin remains a popular alternative asset.
Overall, the investment thesis for Bitcoin is very strong. Starting with the fundamentals, Bitcoin is a finite asset. Just 21 million BTC tokens will ever exist - and more than 93% of the overall supply is already in existence. This makes Bitcoin ideal as a store of value. Bitcoin is also a decentralized asset, meaning that no single authority has control over the network.
This means that investors retain full control of their BTC tokens - so there is no requirement to trust a third party. Bitcoin is also popular for fixed supply. Currently, 6.25 BTC tokens enter circulation every 10 minutes. This ensures that the Bitcoin supply cannot be manipulated. Unlike traditional currencies, Bitcoin does not suffer from central bank policies that lead to inflation.
The 10-minute supply of Bitcoin will soon be reduced to 3.125 BTC. This is known as 'Bitcoin Halving' and it happens approximately every four years. This is good news for investors, as the Bitcoin halving event has historically spurned a new bull rally. In terms of pricing, Bitcoin is trading 55% below its former all-time high of almost $69,000.
This offers an attractive entry point for first-time investors. What's more, Bitcoin is one of the best-performing assets in 2023, with year-to-date gains of 80%. In contrast, the S&P 500 has grown by just 18%. First-time investors will also appreciate that Bitcoin can be
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