Bitcoin has been touted as one of the few digital assets that can protect against inflation at all costs. Essentially a hedge fund against inflation, Bitcoin has actually done exactly that. With its value increasing exponentially, it is one of the best long-term investment options in these times.
This push comes after the Covid-19 pandemic has used up many people’s savings and continues to be a threat. Bitcoin and other cryptocurrencies give people a way to make some money in a short amount of time when invested in the right way. The crypto market is highly volatile and can go from one day of profits to record losses in a day.
President Biden’s stimulus plan has put 5 trillion dollars back into the US economy that has helped many people survive. On top of that, people who were not struggling decided to put that money into either stocks or crypto.
But such an increase in the acceptance of crypto might have been good news for Bitcoin, but that is far from the truth. It is still not the hedge fund against inflation that it was touted to be. With experts claiming that these new-age Defi currencies have actually gone way past being just hedge funds, it would be interesting to see their growth.
If you have been planning to invest in these cryptocurrencies, right now is the best time to do so. They are growing steadily and have been showing signs of becoming good long-term investment plans. There is money to be made in these trades, and the best time is right now.