Cryptocurrency is a technology that inspires people to change their way of using money. In Bitcoin’s case, its technology is open and transparent and has the potential to improve the global financial system. Bitcoin’s real value can be seen in global adoption over time and in emerging use cases whether as a payment method, a store of value, or a hedge against inflation. Not forgetting the fact that Bitcoin is still a young technology having been around for just over 12 years with much potential for the future.
It is still early days
Bitcoin is considered to be an alternative store of value due to its similarity to gold. It has a limited supply of 21 million and it can be made into smaller units without losing unit value. Much like a ringgit can be broken up into cents, Bitcoin is made up of satoshis. Each Bitcoin is made up of 100 million satoshis. This means there are two quadrillion one hundred trillion satoshis. This converts to nearly 275,000 satoshis for every person in the world.
The value of these satoshis will vary in line with the Bitcoin price. So if Bitcoin is worth USD50,000 (RM208,000), that means investors can buy one satoshi for just USD0.0005 (RM0.0021). People will probably not limit themselves to 275,000 satoshis, it is recommended to buy while Bitcoin’s price is low, as it has the potential to rise much higher in the future.
Just how early is it?
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