Top 4 Reasons to Invest in Bitcoin in 2018
Created by the illustrious creator, Satoshi Nakamoto, this peer-to-peer electronic cryptocurrency is set on a path of lightning-fast growth. With no single entity or government as a controller or regulator, Bitcoin has notched up an impressive circulation of 16.5 million coins as of September, 2017.
In the 9 years since its conception, Bitcoin reached a remarkable for a virtual currency 75.8 billion market capitalization. If these numbers are not impressive enough, the statistics over at Bitcoinplay will surely blow your mind.
Increasing Global Adoption
With effect from 1 April 2017, Japan started accepting Bitcoin as legal tender. Bitcoin gained exemption from value-added-taxes in VAT free in too. In fact, a private Swiss bank also started officially selling Bitcoin to its clients. and was accepted as
As of 1 January 2018, Switzerland also began accepting taxes paid in Bitcoins. The phenomenal global adoption and acceptance of Bitcoin is changing the world’s financial markets. The astounding proliferation of Bitcoin ATMs which has now grown to 1402 machines in 55 countries across the world are a testimony to this fact.
Introduced in December 2017 by CME, Bitcoin Futures was handsomely received by more than 100 participants worldwide. The trading volume of more than 1080 contracts having a notional value of $100 million was achieved on the first day. The reason to trade Bitcoin futures can vary from gaining exposure to the Bitcoin market or simply to hedge or manage your gains.
This is a valuable step in increasing the transparency of the entire Bitcoin ecosystem, while also making it more accessible and liquid. It allows to have a uniform reference rate for the ecosystem and is based on the index valuation approach. So basically without holding the cryptocurrency, market participants can take benefit from participating in the Bitcoin market developments.
Exchange Traded Funds
Close on the heels of the Bitcoin futures launching in late 2017, the stage is set for the cryptocurrency to have its very own ETF, Exchange Traded Fund. Cboe Global Markets, Inc. has already filed for 6 ETF approvals in 2017 which will see the light of day in 2018. This is certain to bring a wave of new investors and traders into the Bitcoin market.
Introduction of the Bitcoin ETFs, in addition to Bitcoin futures, makes the Bitcoin a more wholesome and globally accepted currency.
The growing trend of Bitcoin coming into the trading and security regulators purview marks a positive and welcome shift. This marks a paradigm shift in its acceptance and is projected to lead to phenomenal growth and spread of Bitcoin in particular and crypto currencies in general. A better regulated legal environment across the world will lead to actual trade, more transactions; it will also minimize speculation and unlawful activities in Bitcoin.
As Bitcoin continues on its blazing path, the above factors will act as propellers to aid its growth in the right direction. It’s dazzling and much deserved growth in value and usage has handsomely rewarded investors and increased its fan base too.
The future of Bitcoin looks super strong and promising with the possibility of continued and immense growth.