Luxolo Financial

Power of potential: where experts see Bitcoin’s future

Mass adoption and expert guidance could be a boon to crypto investors.

Melissa Karns,
for Luxolo Financial
The numbers look promising, but what do the experts see in them?

If you’ve paid any attention to financial news in the last few years, you’ve surely heard of the newly-minted “Bitcoin millionaires” who made the choice to buy in early before the massive wave of interest that kicked off in 2017 and escalated to a fever pitch in 2020 and onward.

While nobody can predict the future, you’d be forgiven for thinking that Bitcoin has already peaked. An asset that’s made such massive gains (growing from $16,000 to $64,000 between Nov. 2020 and Nov. 2021) might seem unlikely to keep scaling at that speed.

Though the pace at which it’ll move can’t be predicted, forecasts for Bitcoin’s long-term potential are surprisingly optimistic. With a closer look and advice from a knowledgeable pro, now may be the perfect time to consider adding Bitcoin to your investment holdings.

Forecasts of the future

One essential aspect of Bitcoin helps the case for buying in now: its scarcity. Bitcoin’s limited availability —fixed at 21 million bitcoins — was set so that trading could occur similarly to other valuable, finite commodities like gold. As demand for Bitcoin grows in a mass-adoption scenario, the supply will not, making holders the beneficiaries.

Many experts find reason to be highly optimistic about that mass-adoption potential. NASDAQ, in an article published Jan. 2022, even went as far to declare global adoption of crypto a matter of “when,” not “if.” Whether such adoption occurs in the next few years or in the next decade, this possibility means getting in the market now is an even better bet.

Analysts across the board are all watching crypto very closely.

Consider the findings of a wide-ranging study of cultural tech trends published in the journal “Our World in Data” in 2017.  Researchers found that when new technology is initially adopted, it grows gradually until about 8 to 10% adoption, whereupon wide acceptance and use then takes hold. Of course, not all technology is created equal, and growth is never guaranteed, but it bears consideration when questioning whether cryptocurrency has truly fulfilled its potential.

In the midst of the past year’s Bitcoin frenzy, approximately 13% of Americans traded in the asset, according to the University of Chicago. While this is a high number, when considering Bitcoin’s potential to expand as a digital form of currency, something we use just about daily, the possibility of even greater growth remains.

Some analysts estimate that the global cryptocurrency market will more than triple by 2030, resulting in a market cap of nearly $6 trillion. If that’s truly the case, most expect that Bitcoin will play a starring role.

Bringing up Bitcoin

Last year, the first Bitcoin ETF (exchange-traded fund) debuted on the New York Stock Exchange. Trading under the ticker symbol BITO, it’s just the latest way investors can find a more traditional path to crypto involvement.

Before 2022 is up, you’ll be able to catch a movie with no fiat currency required!

That path is getting wider and more accessible by the day. Along with Microsoft, Starbucks, PayPal, and many others already accepting Bitcoin, movie theater chain AMC Entertainment will accept Bitcoin as payment for tickets and concessions by year’s end. When family movie nights come at the courtesy of your crypto portfolio, it’ll be hard to argue that Bitcoin is too niche to truly thrive.

Making your move

For investors looking to merely dip their toes or those looking to make a big splash, it remains crucial to deal with a knowledgeable broker. Even with Bitcoin’s considerable potential, the wrong entry into this exciting-and-complex world could bring undesired results.

Luxolo’s experts are well-versed in Bitcoin and other forms of cryptocurrency and help investors of every type and knowledge level on a daily basis. With an unrivaled level of personal service including comprehensive in-person consultations and even a Bitcoin ATM on-site, Luxolo makes it their business to provide a full picture of the what, why and how of crypto investing for every individual client.

Book an appointment today with one of of Luxolo Financial’s experienced agents to help add Bitcoin to your portfolio.