What is Bitcoin | Watch This Before Buying!

In this video, I’ll explore Bitcoin, eg what is Bitcoin, how does it work, why does it have value, what are the criticisms of Bitcoin. Finally I’ll also share what’s my investment strategy for Bitcoin.

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0:00 - Intro

0:41 - What is Bitcoin
Bitcoin is a digital currency, which is decentralized. Unlike fiat currency, you can’t feel it, everything is digital. Unlike fiat currency where everything has to go through the bank, with Bitcoin, there’s no middle person.

Bitcoin uses the blockchain to keep track of transactions. To make sure transactions are valid, Bitcoin miners solve complex math problems to validate the transactions.

3:56 - Why Bitcoin has value
I feel the biggest reason is because institutions believe Bitcoin to have value. For example, Microstrategy, Tesla, Square, Coinbase hold Bitcoin in their balance sheet. Some companies like Micorosft, PayPal, Starbucks accept Bitcoin as payment. El Salvador made Bitcoin legal tender. All these give people confidence that Bitcoin has value.

Bitcoin also has a max supply of 21 million Bitcoins. So if more and more people believe in Bitcoin and buy to hold, Bitcoin could theoretically go up in value.

7:40 - Criticisms of Bitcoin
People feel Bitcoin are being used for illegal activity. However, there are lots of reports showing that its just a small percentage. Fiat currency are being used more.

Bitcoin uses alot of energy. But with regulations, Bitcoin mining will move towards renewable energy.

8:44 - My Bitcoin investing strategy
I am allocating about 10% of my portfolio to cryptos. The reason I invest in Bitcoin is abit of FOMO, and I am betting on the future. I believe that our financial system will transition to digital currency. I also want to diversify into other asset classes rather than just stocks.

But I only own 10% because in case anything happens, at least I won’t lose everything.

*None of this is meant to be construed as investment advice, it's for entertainment purposes only. Some of the links and other products that appear on this video are from companies which Kelvin Learns Investing will earn an affiliate commission or referral bonus.*

Видео What is Bitcoin | Watch This Before Buying! канала Kelvin Learns Investing