The speed at which people, who opposed digital currencies, are reducing is definitely an indicator that the world trusts this market. It might be new in comparison to other assets out there, but it definitely has an impact. No matter whether you support or don’t support crypto coins, you can’t say that they are not meant to exist for a long time. Those who called this market a fad aren’t saying much now.
If you are already investing in digital currencies, but clouds of doubt continue to surround you, there are many things to look at to boost your confidence in your investment. You can be sure that digital coins are not going to disappear like trendy diets. They solve many economic and financial problems in the world. What could be some other reasons to believe that cryptocurrencies are not going anywhere? Let’s find out.
Number of Cryptocurrencies on the Rise
So, when something is meant to go away within a few days, you can say it does not survive more than a year. Within a year, most of people are fully aware of the reality of the trend. However, you should look at the fact that cryptocurrencies have been around for more than a decade. You can’t say the same for other things that you label as fads or trends. Now, another indicator that something is going away is its decreasing number. You will be surprised to know that digital currencies are only increasing in number with the passage of time.
Bitcoin is the biggest one out there with close to 44% of the lion’s share in its possession. However, according to recent statistics, you have more than 13,000 digital currencies. That number is only going to increase as time passes. The upward trend in the number of the crypto coins has been evident for more than 10 years now.
More Countries Accepting Digital Currencies
You might think that a few countries banning the movement, mining, and use of digital currencies would inspire others to do the same. However, things are quite the opposite. The countries that accept cryptocurrencies, or Bitcoin in particular, are increasing with every passing day. If you are thinking about listing down the countries that accept or do not accept crypto, it would be best for you to write down the countries that don’t accept it. That’s a much smaller list and China and Russia are on it. Vietnam, Turkey, Iran, Egypt, Iraq, and Nepal are among some other countries that ban digital currencies.
Other than that, you have all the countries allowing you to trade cryptocurrencies. Now, if a country does not allow you to buy your daily household items with BTC, it does not mean it that it has banned cryptocurrency. It only means that you cannot buy daily-use items with it. You can use it for trading and other purposes.
Millionaires Investing in Cryptocurrencies
You can’t deny the fact that the big banks, companies, and personalities of the world are interested in digital currencies. You have Facebook’s digital currency called Libra that has gained some traction. At the same time, Elon Musk is a big believer in digital currencies. His favorite digital coins are Bitcoin and Dogecoin. MicroStrategy is a company that has gained BTC worth billions of dollars in just a few months after accepting it since the start of 2021. Mark Cuban also promotes and supports the use of cryptocurrencies. With such names backing the cryptocurrency world, you can be sure that this market is not going anywhere anytime soon at least.
It is natural to feel a little uncomfortable at the time of investing in digital currencies. You might feel that they will disappear in the future without you ever knowing about it. However, digital currencies are here to stay. Many banks use them now and some countries even allow you to buy your daily-use items with cryptocurrencies, especially Bitcoin. Now, you have to decide what your reason to doubt the digital currency investment market is.