Barely a decade after the introduction of Bitcoin, cryptocurrencies are gaining momentum and really entering the monetary and investment mainstream. You can now use Bitcoin, Litecoin, Ethereum, XRP, and numerous other cryptocurrencies to make purchases at hundreds of online retailers, and even at physical points of sale. You can invest in cryptocurrencies with a cryptocurrency IRA, even rolling over existing retirement assets into a cryptocurrency IRA in order to take advantage of cryptocurrencies’ growth potential. But will cryptocurrencies be around in another decade?
Since the creation of the first cryptocurrencies, naysayers have been predicting their demise. Yet here they are over a decade later, still going strong, and in fact picking up momentum. A recent survey of over 10,000 people in 10 countries in Europe showed that two-thirds of Europeans believe that cryptocurrencies will still be around in 10 years. That’s a 3 percentage point increase from the last time the survey was done, showing that confidence in cryptocurrencies continues to grow. And why shouldn’t it?
The advantages offered by cryptocurrencies are clear to most people nowadays, as the utility of cryptocurrencies as a means of payment and the growth potential of cryptocurrencies as an investment asset are both well established. No longer are cryptocurrencies regarded as the domain of shifty black market drug dealers, terrorists, or child traffickers. More and more people are getting wise to the many benefits of cryptocurrencies in protecting and growing their wealth, and are looking to buy and hold cryptocurrencies.
While the price growth of cryptocurrencies over the next decade won’t be as stratospheric as it was during the first decade, it nonetheless may put other assets to shame. With Bitcoin, for example, gaining nearly triple the amount that stock markets gained last year, in a year that was historically strong for stock markets, you know that cryptocurrencies have the potential to offer investors continued strong growth in the future. Investors realize that, which is why more and more believe that cryptocurrencies are here for the long haul.