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Feb 17, 2024
By: Bhumi Shrivastava
Contrary to belief, Bitcoin is utilized globally for transactions and increasingly as a hedge against inflation by major institutions like Tesla and MicroStrategy.
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Bitcoin's scarcity, capped at 21 million coins, and its decentralized mining process contribute to its value, contrasting with fiat currencies that can be subject to inflation.
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Despite numerous competitors, Bitcoin remains the dominant cryptocurrency, benefiting from its first-mover advantage, robust community, and decentralized nature.
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Investing in Bitcoin isn't akin to gambling; its upward trend over the past decade and the emergence of regulatory structures have attracted institutional investors.
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While third-party services utilizing Bitcoin have faced security breaches, the Bitcoin network itself has never been hacked, boasting a secure, decentralized protocol and irreversible transactions.
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Bitcoin's volatility is gradually decreasing, thanks to increased institutional participation and mainstream adoption, making it a more stable investment option.
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Whether to invest in Bitcoin depends on individual circumstances, risk tolerance, and investment horizon, emphasizing the need for careful consideration and possibly professional guidance.
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