Confuse and divide seems to be the press’ current mandate. The case for and against Bitcoin is so hotly debated world wide. Let’s explore both sides of the coin.
Bitcoin allows people to transfer money without a bank or the swift system. It’s stable and less volatile than the currencies on offer in many of the Third World countries.
If you consider that 75% of the population live in Third World countries. Most of these currencies are basically worthless both in and outside the country. Gold another available alternative currency is not that easy to spend or exchange. Bitcoin is easier to spend then Gold . These people need food, shelter, clothing then a smartphone and they are available for under $50. All these new economies are flocking to buy Bitcoin . People are buying it for a ‘store of value’ or to do business.
Bitcoin reportedly is in a bubble. We can expect a bigger bubble - as people try and save in it and transfer money.
All over the world the printing of money is continuing. Printing currency up by the trillions. “China & Russia may go into a gold backed Yuan & Ruble’ says ‘Doug Casey’ of Caseyresearch. He continues by saying ‘The US dollar is the worlds premier paper currency and it may go back to its intrinsic value zero’.
RISK AVERSE BUT WANT TO GET IN
To speculate on the value that Bitcoin may reach in the future is one of the most difficult things to determine.
Are we for the first time in history going to see a currency not dominated by a single nation with the exclusion of gold or silver? Bitcoin is a 'store of value' but it is also ‘proof of work’. With a mobile phone you can hold the medium of exchange outside of the jurisdiction you are in. In these tumultuous times it’s no mystery that Digital currencies are becoming so popular. If you are not sure how to invest or you are risk averse I've found a decent share called HIVE that may just be your thing to jump on the bandwagon and not sweat about the wild fluctuations of the price of Bitcoin .
6.5 Million shares of HIVE blockchain technologies are owned by a boutique investment firm Galileo Partners Fund. They identify and invest in the most promising small and mid-cap companies - they are known for their contrarian views. HIVE is an infrastructure company that bridges blockchain and cryptocurrencies to traditional capital markets. Essentially its a mining firm.
Currently the share is at $1.40 - 1.38. I see good buying for the long-term in this share and in the short term I’m looking at price heading to $3.90.