Category: 401k in bitcoin
Ten years ago, in its infancy, it was around a buck. The digital currency's meteoric rise has minted millionaires and energized true believers around the world. That's only convinced skeptics that Bitcoin is the mother of all bubbles. In recent weeks, the price of Bitcoin has been driven higher following highly publicized investments from the carmaker Tesla and the life insurer MassMutual. Banks, MasterCard and the auction house Christie's have all opened their doors to this kind of cryptocurrency, bringing it closer to the financial mainstream.
Before corporate America tiptoed in, there were people like Nikki Beesetti fascinated by Bitcoin's promise. In , Beesetti was an engineering major at Purdue University, facing typical college pressures, teaching on the side. And eventually as an investment. The single Bitcoin she bought covered her tuition, books and lab fees. And it a way it changed her life. She's still buying Bitcoin, still excited by its potential.
It's definitely made me more optimistic, definitely given me a lot of things to look forward to, especially in a time when things can seem so lonely and dreary. The Bitcoin maximalists There's a phrase for people who are all in on Bitcoin, not just to get rich, but as a revolutionary breakthrough. They're called Bitcoin maximalists. George Mekhail is one of them. Mekhail is a mortgage professional by day and the co-author of a book called " Thank God for Bitcoin " on the moral case for the cryptocurrency.
And so I stuck around. Here's the maximalist case for Bitcoin: The cryptocurrency is free of politics, significant at a time when so many people mistrust the competence and intentions of government. It's not controlled by central banks or leaders craving popular approval.
Bitcoin is borderless. Bitcoin can't be counterfeited, spent twice. Bitcoin - The Religion And here's what might be the biggest argument of all on behalf of Bitcoin: The way it's designed, only 21 million Bitcoins will ever exist. So, like gold, it is finite, which makes it a hedge against inflation.
In contrast, the maximalist argument goes, governments can print endless amounts of money. That is an automatic process by which the output of bitcoins produced by miners — individuals who run expensive computers to upkeep the currency network and get paid bitcoin rewards — every ten minutes was halved starting from May 11, One consequence of the attendant scarcity is a rise in price. That was always attractive to a certain crowd — libertarians, anarchists, goldbugs — but the triumph of chaos and despair also known as must have convinced many that it was worth giving it a try.
One consequence of the pandemic has been a lot of government spending, which made it a no-brainer, for many, to put at least some money in bitcoin. In some quarters, Bitcoin is now regarded as a genuine competitor of gold — to the extent that J. Most Popular.
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