Bitcoin is a digital currency that people have been talking about since 2009. If you are not a financial type of a person, the concept of investing in bitcoin can be very daunting. Barely when people were trying to understand more about term deposits and variable interest rates, a new digital currency in bitcoin was created. Today, bitcoin is one of the most traded cryptocurrencies, and if you had the opportunity of investing in it early 2009, you are currently either a millionaire or you have made a lot of profit from it. Just a few months ago in Australia, the bitcoin price for just one bitcoin was over $5,100 AUD.
Just seven years ago, the price of one bitcoin was around 1.50 US cents. If you had bought bitcoins worth $25, by now, you would have made over $7 million. Perhaps the most important question most people are asking themselves is what about those that want to invest in this cryptocurrency in 2017. Can they still make a decent profit? If you want to invest in bitcoin now, there is one thing you should understand, and that is controlled supply. Currently, there is a cap on the number of bitcoins that can be created and the maximum number is 21 million.
While this amount may seem small to some people, it will never be in full circulation. According to many bitcoin news websites, as of 1June 2017, there was just above 16 million BTC in circulation (theoretical supply) out of a possible 21 million BTC, and the number has not yet been mined. This shows that there are at least 4 million bitcoins in supply meaning that it is still possible to invest in the cryptocurrency. Furthermore, if people fully adopt the concept of using bitcoins for purchases in the near future, this will see its value increase significantly because of the limited supply.