When it comes to finance and investments, few are more divisive than Bitcoin. Some believe that it's a fad that's doomed to die out, while others believe it's one of the safest ways to invest in an uncertain time.
Billionaire Counts on Bitcoin
Count Michael Saylor among the latter, as he's stated that he's going to be investing in Bitcoin whenever he's got some spare cash lying around. "The network is only getting better, adoption is improving, very constructive regulation is coming out of DC and the lightning network is moving us closer to Satoshi’s promise of letting everybody in the world trade with each other at the speed of light in fair and equitable fashion."
Why does Saylor believe in bitcoin? Simple: bitcoin isn't governed by any one government, which means that there's no risk of the government ever taking it away. In these uncertain times, once someone buys cryptocurrency, they own that amount of bitcoin for as long as they choose to keep it.
Protected From the Recession
There's another key reason Saylor thinks investing in bitcoin makes sense: the lessons of the recession. Unlike more traditional investments, bitcoin has seen its value rise by more than 200 percent, as its value isn't tied to the performance of the market or of currencies. Its value tends to be volatile, making it an investment that isn't for the faint of heart, but in recent times, it's performed better than gold, which has only gone up seven percent since the pandemic's beginning.
If you're looking for a long-term investment and can afford to take some risks, bitcoin's potential profits and consistent value in a recession can make it an excellent choice.