Bitcoin has come a long way, but it has plenty of room left to grow.
In the rapidly evolving landscape of cryptocurrencies, Bitcoin (BTC -0.61%) continues to stand out as a compelling digital asset with both short-term advantages and long-term value ideas. Despite its price hovering just off all-time highs, there are several reasons why it's still a good time to invest in Bitcoin in 2024.
In the short term, recent developments have further solidified Bitcoin's position in the financial world. The introduction of spot Bitcoin ETFs has been a game-changer, providing a stamp of legitimacy from traditional finance indicating that the once-obscure digital currency is here to stay. These exchange-traded funds are not only a convenient way for investors to gain exposure to Bitcoin; they also democratize access, allowing buyers to add Bitcoin to retirement accounts such as 401(k)s and IRAs. The availability of Bitcoin ETFs also opens the door for other ETF providers to incorporate Bitcoin into their funds, potentially increasing its accessibility to a wider investor base.
Additionally, younger generations like millennials and Gen Z are showing increased interest in cryptocurrencies. This should further contribute to the increasing adoption of Bitcoin and other digital assets worldwide.
Looking at the long-term fundamentals, Bitcoin's value proposition becomes even more evident. One of the most compelling factors is the continued inflation of fiat currencies, driven by central banks aiming to stimulate economies and manage ever-growing sovereign debt balances.
As this trend becomes more apparent, investors will increasingly appreciate Bitcoin's finite supply of 21 million coins and its role as an inflation hedge and store of value. Moreover, Bitcoin's fundamental attributes as the most capable, proven, and secure decentralized asset in the world, should give it formidable staying power for decades to come.
Given these factors, the case for investing in Bitcoin remains highly relevant, especially for investors with long-term horizons. While short-term market fluctuations may cause uncertainty, Bitcoin's underlying fundamentals remain robust, making it a resilient asset for wealth preservation and long-term growth. Therefore, investors would be wise to consider allocating a portion of their portfolios to Bitcoin, recognizing its potential to deliver significant returns over the long haul.
RJ Fulton has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.
FAQs
Despite its price hovering just off all-time highs, there are several reasons why it's still a good time to invest in Bitcoin in 2024. In the short term, recent developments have further solidified Bitcoin's position in the financial world.
Should I invest in Bitcoin motley fool? ›
Its increasing popularity among investors, its inherently limited supply that drives up its value, and its increasing acceptance among governments and financial institutions make a Bitcoin investment a potentially smart move.
What crypto does the Motley Fool recommend? ›
The Motley Fool has positions in and recommends Bitcoin.
Is crypto worth investing in 2024? ›
High potential returns: Cryptocurrency has the potential to provide returns greater than what you could see from the stock market. For example, while the S&P 500 had a return of about 18% in the period ending August 8, 2024, Bitcoin had a return of about 101% for the same period.
Is crypto worth investing right now? ›
You can still make a significant profit by investing in Bitcoin today, especially if we consider the final Bitcoin will be mined in 2140. Just make sure to be patient and not sell your holdings during bear markets, which are natural and happen on a regular basis.
Is it wise to invest in Bitcoin? ›
The most important thing to remember about Bitcoin is that it is a high-risk asset. Never invest money that you aren't willing to lose. Treat Bitcoin as a means of slowly growing your existing wealth rather than an all-or-nothing gamble. As with other investments, it's important to hedge your portfolio.
What is a better investment than Bitcoin? ›
Stocks have a long history of solid returns, they have intrinsic value, are accessible, and have stronger regulations than Bitcoin.
What are the 10 best stocks to buy according to Motley Fool? ›
The top 10 stocks to buy in September 2024
- CrowdStrike (CRWD 2.34%), $58 billion.
- PayPal (PYPL 0.73%), $66 billion.
- Airbnb (ABNB 0.73%), $72 billion.
- Shopify (SHOP 4.91%), $89 billion.
- MercadoLibre (MELI 1.4%), $96 billion.
- Walt Disney (DIS -0.09%), $156 billion.
- Intuitive Surgical (ISRG 1.38%), $165 billion.
Based on the report's findings, there appear to be two primary millionaire-maker cryptocurrencies: Bitcoin (BTC -0.56%) and Ethereum (ETH -0.12%).
What is the smartest cryptocurrency to invest in? ›
Top 10 Cryptos to Invest In September 2024
- Bitcoin (BTC)
- Ethereum (ETH)
- Binance Coin (BNB)
- Solana (SOL)
- Ripple (XRP)
- Dogecoin (DOGE)
- Polkadot (DOT)
- SHIBA INU (SHIB)
Bitcoin (BTC) Price Prediction 2030
| Year | Price |
|---|
| 2025 | $ 63,501.28 |
| 2026 | $ 66,676.35 |
| 2027 | $ 70,010.17 |
| 2030 | $ 81,045.52 |
1 more rowSimple math shows that the average bitcoin holding per person is about 262,500 satoshis. At $69,000 per bitcoin, that works out to an investment of about $180 to reach the global average bitcoin allocation. So don't be discouraged by the price of a single bitcoin.
Which coin will reach $1 in 2025? ›
By January 2025, 5SCAPE could potentially increase 1000x from its current value, driven by its expanding ecosystem and the growing VR market, making it a compelling investment. The token will soon witness a boost and could breach $1 mark post launch.
Is it smart to buy Bitcoin now? ›
Ultimately, investing in bitcoin is a personal decision, whether you're buying ETFs or actual digital coins. If you decide to invest, you should have an already diversified portfolio of assets like index funds. You typically don't want to invest money in speculative assets you can't afford to lose.
Should I stay invested in crypto? ›
Most financial experts recommend limiting crypto exposure to less than 5% of your total portfolio. Crypto is considered a high-risk asset class.
What is the best digital currency to invest in right now? ›
9 top cryptocurrencies by year-to-date performance
| Coin name | Market cap | YTD return |
|---|
| TRON TRX | $13,027,228,625 | 39.44% |
| Bitcoin BTC | $1,139,954,729,560 | 36.52% |
| Solana SOL | $59,612,862,435 | 25.83% |
| XRP XRP | $31,422,670,443 | 9.17% |
5 more rowsSep 3, 2024
Bitcoin Overview
Our real-time BTC to USD price update shows the current Bitcoin price as $54,906 USD. Our most recent Bitcoin price forecast indicates that its value will increase by 17.24% and reach $64,372 by September 11, 2024.
Is Motley Fool still worth it? ›
Motley Fool Stock Advisor can be a good service for investors wanting stock recommendations, reports, and educational resources. The advisor service has an average stock pick return of 628% and has quadrupled the S&P 500 over the last 21 years, according to Motley Fool's website.
Why stocks are better than Bitcoin? ›
Cryptocurrencies often pose higher risks compared to stocks because of their volatility, limited regulatory oversight, and novelty. Despite stocks being relatively more stable, they are still susceptible to market downturns and company-specific challenges.
How long does it take to hold Bitcoin? ›
Crypto hodling is a long-term strategy that could provide a safer investment option, especially for inexperienced asset owners. “Sit back, relax and go back to your investment in five years' time” is often a mantra in financial markets, and the crypto industry is no exception as this is also the hodlers' motto.
