Bitcoin is an asset you want to hold for decades, not days or weeks: Crypto.com CEO Kris Marszalek (2024)

FAQs

Is Bitcoin a good long-term hold? ›

As the last five years have shown, Bitcoin can be a very good long-term investment. But you have to get it at just the right time (i.e., not when everyone is talking about it), and you have to be willing to stomach some major ups and downs along the way.

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.

Bitcoin's Price History

Notably, Cathie Wood, CEO of Ark Invest, predicted that bitcoin could reach an astounding $1.48 million by 2030. Obviously, the world's oldest cryptocurrency has come a long way since its first recorded price of less than a cent.

The safest place to store crypto is in a hardware wallet, which is a physical device that stores your private keys offline and keeps them solely under your control. A cold wallet is the most secure for long-term crypto storage. It protects against online attacks and unauthorized access.

If Bitcoin continues this pattern into 2030, the price could peak around 2029 or 2030. If Wood is correct and Bitcoin reaches $3.8 million, if you invested $1,000 in Bitcoin now, it would be worth $54,280 in 2030. This would result in a compounded annual growth rate (CAGR) of nearly 95%.

It is possible, but unlikely, for Bitcoin to go to zero. Like any other asset or investment, the value of Bitcoin is subject to market forces. It can be affected by various factors, including supply and demand, investor sentiment, and regulatory actions.

Reasons for cashing out crypto or Bitcoin

The decision whether to cash out crypto or Bitcoin depends on your financial goals and market conditions. You may want to lock in gains, cut or harvest losses for taxes, or simply use your digital assets in the real world.

One of the first signs to look out for is if there is any negative news regarding the coin you've invested in. Any negative PR from the corporate side, top management, or even the founder could instantly bring down the value of your coin.

While not all cryptos are same, they all pose high risks and are speculative as an investment. You should never invest money into crypto that you can't afford to lose. If you decide to invest in crypto then you should be prepared to lose all your money.

How much will 1 Bitcoin be worth in 2050? ›

Executive Summary: Bitcoin Price of $2.9M by 2050

Using assumptions about global growth, investor BTC demand, and Bitcoin's turnover, we apply a velocity of money equation to suggest a potential price of $2.9M per Bitcoin, translating to a total market cap of $61 trillion.

So, who are the top holders of BTC? According to the Bitcoin research and analysis firm River Intelligence, Satoshi Nakamoto, the anonymous creator behind Bitcoin, is listed as the top BTC holder as of 2024. The company notes that Satoshi Nakamoto holds about 1.1m BTC tokens in about 22,000 different addresses.

The answer to the question “what is the safest way to store crypto” is a self-custody cold storage wallet. As covered earlier, options include hardware wallets and paper wallets. But that's not to say that holding 100% of funds in cold storage is right for everyone.

Software, hardware, paper — almost anything can function as a crypto wallet. Even your brain. A brain wallet is a type of crypto cold storage in the form of a memorized private key or seed phrase.

Your bitcoin ownership is safely recorded, stored, validated, and encrypted on the blockchain. To date, there are no known events where cryptocurrency has been stolen by altering the information on a blockchain because of the encryption methods used.

Bitcoin, in particular, has been known for wild fluctuations in price and volatility, making the decision as to whether to HODL it more challenging. Bitcoin Spot ETF approvals in January 2024 and following price increases make a strong case for holding.

Invest only money you can afford to lose. Generally, there is a limited downside to investing $100 in Bitcoin since it is a relatively small initial investment, and even significant market movements will only result in a manageable total loss.

Key Takeaways. Bitcoin is most likely to remain popular with cryptocurrency speculators over the next decade. Bitcoin the blockchain will probably continue to be developed to address long-standing issues like scalability and security.

The answer to the question of which cryptocurrency is better in the choice between Bitcoin vs. Ethereum, it depends entirely on your requirements. While Bitcoin works better as a peer-to-peer transaction system, Ethereum works well when you need to create and build distributed applications and smart contracts.