As a group, millennials are obsessed with bitcoin. They just love it. But why? What is it about bitcoin that keeps on driving the market higher? Find out more in this post.
It’s Like A Bank That’s Open 24/7
Because bitcoin is a server-based currency, it never goes down. It’s always up and running. That means that you can make financial transfers whenever you like without having to wait for the bank to open. In short, it’s just as convenient as all the other services that millennials love to use on their phones.
It’s Long-Term Performance Is Spectacular
After the financial crisis of 2008, many millennials wondered whether the economy would ever recover. They knew that they wanted similar or better lifestyles than their parents, but they couldn’t see a way to get there. Most were on a strict budget.
Enter bitcoin. The cryptocurrency had a starting valuation of just pennies. But over the last ten years, the value per coin has grown to tens of thousands of dollars.
Investors using cryptocurrency APIs who held onto their coins have seen massive returns in terms of fiat money. The price just keeps going up and up.
It Will Continue To Perform
Bitcoin looks almost unstoppable now. Governments and banks will try to maintain their control, but it is only a matter of time before power over the value of currency returns to ordinary citizens.
As the bitcoin network expands, coins themselves will continue to go up in value. The larger the network of companies that accepts bitcoin, the higher the price will go. Eventually, bitcoin may come to a point where it represents all goods in the economy. That would imply a valuation in the millions of dollars per coin.
It Is Making The World A Better Place
After the greed of governments and banks became obvious during the financial crisis, bitcoin’s developers decided to create a currency that could make the world a better place. They wanted to end the monopoly of power that a few elites in society had and democratize currency for everyone.
We’re now living during the afterglow of those efforts. Bitcoin is still young, and yet its market cap continues to rise to extraordinary levels. Its network is still growing, allowing millennials to invest in something that could potentially make the world a better place.
It Makes Small Transactions Easy
There’s no need for anyone to check your transactions are legitimate under the bitcoin system. Instead, the blockchain takes care of all that for you.
Coffee Shops Are Accepting It
Even small businesses are beginning to accept bitcoins. Many coffee shops now accept the currency on a trial basis. Transactions of this kind are gaining worldwide acceptance and are great for the tourism market. Costly exchanges may become a thing of the past – something that wanderlust millennials will love.
… and above it all
It Has A Meme Community
Millennials love their memes – perhaps more than any other generation in history. And, in this sense, bitcoin has been a gift from the gods. The bitcoin community continually generates new memes and gifs for all to enjoy.
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What do you think?