Bitcoin is often called digital gold. Gold being what has been used as sound money and currency for millenia, is what Bitcoin is now to us in the modern digital age and future. Now, besides gold, thorughout history there has been a different and more ancient kind of a store of value. Land.
Before people even used currencies to barter with each other, there were territories of these ancient humans. They had boundaries which separated their cultures and wealth. I think there is merit in calling Bitcoin digital real estate. The first of its kind. There are 15.77 billion acres of habitable land available on Earth. Just to compare, there are 21,000,000 Bitcoin ever to be made. The value to the entire habitable land mass of Earth in today’s dollars is 217,000,000,000,000. Thats trillions. Dividing the total number of Bitcoins with the value of the Earth’s hablitable land gives us 10,333,000 usd per BTC. Also, having just one Bitcoin is just like having 750 acres of land, in proportion.
All in all, if Bitcoin is to absorb most of the worlds value and then create a new economy based on cryptocurrencies, we still have a lot of room to grow in terms of dolla value. My advice to those getting in and to those that arent sure to buy because of the risk: Dollar Cost Average a portion of your paycheck, however large or small, just as long as its on a reguar basis. As a side note, those that have been here for a while now know that if Bitcoin survived Mt Gox and the bear market that came after, Bitcoin sure as hell is going to survive in the future.
At this stage in the game, there is more risk in not buying Bitcoin. Seeing today’s economic tensions worldwide, turmoil in Iran, USA vs CHINA, Brexit, Argentina’s and Venezuela’s hyperinflation. Those living in the nice parts of the world only value Bitcoin as a currency. Not so much as a store of value or a hedge against the state currency. Those living in Argentina and Venezuela do. They dont care about buying a coffe with Bitcoin, they want Bitcoin in its rawest form. Value. Dont wait for calamity to befall your country. In today’s globally connected economy, any issue could trigger a worldwide recession.
Buy Bitcoin for your future’s sake.