Is Bitcoin the New Amazon?
Bitcoin was the subject of many comparisons and debates over time, especially when it was first released. The news of a cryptocurrency being created certainly caused many opinions and mixed reactions. Once it started to grow, some even compared it to gold. But while no one can say with certainty what the future holds for the famous cryptocurrency, there is one comparison we cannot ignore, as it seems quite accurate so far. Is Bitcoin the new Amazon?
Amazon and One Man’s Vision
When Jeff Bezos launched Amazon in 1994, he had grand plans for the company. It originally only sold books, and the truth is no one expected it to reach today’s level. Bezos had a clear vision of what he wanted Amazon to become – an online market where you can buy and sell absolutely everything. And as it turned out, it wasn’t just a vision but also a carefully designed plan that not only worked but also surpassed expectations.
Where did his vision lead? Well, Amazon became in charge of almost 40% of all e-commerce transactions in the U.S. While brick and mortar stores are doing worse every day, and many of them were already closed, Amazon is thriving. As for its creator, he is now the richest man in the world, and happy to say his prediction was right on the spot.
Initial Reactions and Previsions
Amazon’s growth was slow and took a while, and experts were quite reserved about it and even considered it to be a lost cause. In 2005, the company was still far from the explosion it represents today. It lost 90% of stock value; many people used it to avoid taxes; it was fighting intense competition and seemed unlikely to pull through.
Everyone underestimated Amazon, but by 2020 it became a giant that investors wish they had paid more attention to in the past.
What about Bitcoin?
Bitcoin faced the same lack of enthusiasm and trust in its power to grow when it was first launched. Despite being an amazing addition to the financial market, many people and investors saw it as a dead-end. Still, there were also plenty who took a chance on it; they are now more than pleased with that decision, for sure.
Laszlo Hanyecz is famous for having made the first commercial transaction using Bitcoin; in 2010, he used 10,000 BTC to buy two pizzas. Since a Bitcoin is valued at over $15,000 today, the path this cryptocurrency took is obvious and spectacular.
Where Is Bitcoin Now?
Despite the impressive growth, many wealth management experts don’t really trust Bitcoin to continue its ascending curve in the future. But in fact, if we compare Bitcoin and Amazon, similarities are apparent. The stage Bitcoin is now is that of Amazon 15 years ago.
If we consider the primary investments made during the last few years, Bitcoin is definitely dominating the charts. Bitcoin’s price has been far from steady, but that’s expected from such a volatile currency. Still, it’s unique attributes make it capable of taking the same successful path as Amazon and maybe even surpass it.
Why Is Bitcoin a Smart Investment?
Bitcoin is a vision put into practice, just like Amazon was at its time. But it’s also based on a team of incredibly brilliant and dedicated software developers and business experts working to prepare the cryptocurrency for the next step of its impressive development.
Cryptocurrencies have a long and exciting road ahead, so it’s an investment worth considering. If you feel you don’t have enough information to make an informed decision, take it one step at a time. Learn everything a beginner needs to know, and then keep up-to-date and follow the fluctuations to understand how cryptocurrency works.
Investing in Bitcoin isn’t for everyone; you need to adjust to its volatile nature and be in it for the long run. But a few years from now, you could be like those inspired investors who placed their money in Amazon before it became the giant it is today.