{"id":22704,"date":"2024-06-20T02:30:51","date_gmt":"2024-06-20T02:30:51","guid":{"rendered":"https:\/\/zebpay.com\/au\/?p=22704"},"modified":"2024-06-21T02:51:13","modified_gmt":"2024-06-21T02:51:13","slug":"why-bitcoin-continues-to-outshine-as-the-best-investment-in-2024","status":"publish","type":"post","link":"https:\/\/zebpay.com\/au\/blog\/why-bitcoin-continues-to-outshine-as-the-best-investment-in-2024","title":{"rendered":"Why Bitcoin Continues to Outshine as the Premier Investment in 2024"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/zebpay.com\/au\/blog\/why-bitcoin-continues-to-outshine-as-the-best-investment-in-2024\/#Introduction\" title=\"Introduction\">Introduction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/zebpay.com\/au\/blog\/why-bitcoin-continues-to-outshine-as-the-best-investment-in-2024\/#Historical_Performance_of_Bitcoin\" title=\"Historical Performance of Bitcoin\">Historical Performance of Bitcoin<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/zebpay.com\/au\/blog\/why-bitcoin-continues-to-outshine-as-the-best-investment-in-2024\/#Adoption_and_Acceptance\" title=\"Adoption and Acceptance\">Adoption and Acceptance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/zebpay.com\/au\/blog\/why-bitcoin-continues-to-outshine-as-the-best-investment-in-2024\/#Technological_Advancements_and_Innovations\" title=\"Technological Advancements and Innovations\">Technological Advancements and Innovations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/zebpay.com\/au\/blog\/why-bitcoin-continues-to-outshine-as-the-best-investment-in-2024\/#Store_of_Value_and_Hedge_Against_Inflation\" title=\"Store of Value and Hedge Against Inflation\">Store of Value and Hedge Against Inflation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/zebpay.com\/au\/blog\/why-bitcoin-continues-to-outshine-as-the-best-investment-in-2024\/#Risks_and_Challenges\" title=\"Risks and Challenges\">Risks and Challenges<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/zebpay.com\/au\/blog\/why-bitcoin-continues-to-outshine-as-the-best-investment-in-2024\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Introduction\"><\/span>Introduction<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Bitcoin is the first crypto asset released to the public. Bitcoin is the gold standard for the crypto community. Since its inception in 2008, it has been rallying hard both towards total valuation and price. Bitcoin\u2019s limited availability and a deflationary economic model support the rising purchasing power over time. This makes Bitcoin attractive to investors as the adoption rises manifold. This, along with new technological developments and several other factors keep Bitcoin as a premier investment destination. Let us explore those factors here-<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Historical_Performance_of_Bitcoin\"><\/span>Historical Performance of Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Historically, Bitcoin has been a good investment. In the last 10 years, Bitcoin has given a return of 60.29% compounded annual returns with a 75.32% standard deviation. BTC which was priced at USD 0.0041 in 2009 reached USD 73,750 in 2024. Bitcoin is not only the initiator of the crypto community but the leader. Bitcoin-related events affect the whole crypto market and this shows the relevance and importance of Bitcoin.<\/p>\n\n\n\n<p>Read more: <a href=\"https:\/\/zebpay.com\/au\/blog\/bitcoin-price-prediction\" target=\"_blank\" rel=\"noreferrer noopener\">Bitcoin Price Prediction<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Adoption_and_Acceptance\"><\/span>Adoption and Acceptance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The acceptance of Bitcoin has been on the rise since its inception. It kick-started the world of digital assets and revolutionised the global economy. Its economy mimics gold, with a limited supply and energy-intensive mining process. The deflationary model made Bitcoin more than a technical project and has been largely adopted by the populace worldwide.<br><br>With the increase in the digital presence of the masses, the adoption of Bitcoin is rising as well. Several events like <a href=\"https:\/\/zebpay.com\/au\/blog\/what-is-bitcoin-halving\" target=\"_blank\" rel=\"noreferrer noopener\">Bitcoin halving<\/a> and new technological developments increase the demand for Bitcoin and thus, it pushes the price further ahead. This further accelerates the adoption and acceptance.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Technological_Advancements_and_Innovations\"><\/span>Technological Advancements and Innovations<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Bitcoin\u2019s blockchain technology has evolved since 2008. With time, alternatives to Bitcoin started emerging. Bitcoin competes with them through technological advancements and innovations.<\/p>\n\n\n\n<p>Bitcoin, being a continuously evolving technology, has seen several advancements in recent times. Here are some of the latest technological developments:<\/p>\n\n\n\n<p><strong>Taproot Upgrade:<\/strong> Taproot is one of the most significant upgrades to Bitcoin since SegWit (Segregated Witness). It was activated in November 2021. It enhanced privacy and reduced the transaction fees.<\/p>\n\n\n\n<p><strong>Lightning Network:<\/strong> The Lightning Network is a second-layer solution designed to enable faster and cheaper transactions by conducting transactions off-chain.<\/p>\n\n\n\n<p><strong>Schnorr Signatures:<\/strong> These are a type of digital signature scheme. It enhanced the security, efficiency, and scalability of the Bitcoin blockchain.<\/p>\n\n\n\n<p><strong>Sidechains and Drivechains:<\/strong> Sidechains are separate blockchains that are interoperable with the main Bitcoin blockchain. Drivechains are a specific type of sidechain.<\/p>\n\n\n\n<p><strong>Layer 3 Solutions:<\/strong> Projects are exploring Layer 3 solutions built on top of the Lightning Network for further scalability and additional functionalities. This handles more complex applications such as <a href=\"https:\/\/zebpay.com\/au\/blog\/everything-you-need-to-know-about-dapps\" target=\"_blank\" rel=\"noreferrer noopener\">decentralized applications (dApps)<\/a> and further enhances transaction throughput.<\/p>\n\n\n\n<p>These advancements contribute to Bitcoin&#8217;s ongoing evolution, addressing scalability, privacy, and functionality to meet the growing demands and use cases of its user base.<\/p>\n\n\n\n<p>Read more: <a href=\"https:\/\/zebpay.com\/au\/blog\/what-is-blockchain-layer-0-1-2-and-3\" target=\"_blank\" rel=\"noreferrer noopener\">What Are Blockchain Layers<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Store_of_Value_and_Hedge_Against_Inflation\"><\/span>Store of Value and Hedge Against Inflation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Hedging is the process of storing the value in an asset whose value is not directly affected by the downfall of the mainstream economy. During inflation, the purchasing power of national currencies drops. Bitcoin has become one of the favourite destinations for hedging against the economic downturn. Bitcoin hedging protects the investors against the inflationary cycles.&nbsp;<\/p>\n\n\n\n<p>Before Bitcoin, people used Gold for hedging purposes. Bitcoin is a relatively new destination for hedging with better returns when invested for a longer time. The sensor-proof, decentralised and global nature of Bitcoin makes it a proper hedging solution for people all over the world.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Risks_and_Challenges\"><\/span>Risks and Challenges<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Just like any other, investment in Bitcoin doesn\u2019t come without risk. Although Bitcoin is volatile in the short term, in the longer run its volatility subsides with consistent year-on-year growth.<\/p>\n\n\n\n<p>Bitcoin is facing lots of competition from other tokens. Continuous development is very much required to adapt to the modern requirements. This challenge is being overcome rapidly, enhancing scalability and demand.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Bitcoin is the first crypto ever and it is still relevant if not more so. It is globally accepted and is rapidly changing the economic system. It has led the way for several advancements. With continuous technological advancements, scalability and utility have enhanced as well. Events like Bitcoin halving have also made it more scarce and a better investment opportunity.<\/p>\n\n\n\n<p>If you found this blog to be useful, do share it with other like-minded crypto enthusiasts. Click on the button below to begin your crypto trading journey using Zebpay.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-text-color has-link-color wp-element-button\" href=\"https:\/\/connect.zebpay.com\/account\/login?returnUrl=%2Fconnect%2Fauthorize%2Fcallback%3Fclient_id%3Deee7baaa-9d6c-43f1-9eb6-8174f62cd244%26redirect_uri%3Dhttps%253A%252F%252Fzebpay.com%252Fapp%26response_type%3Did_token%2520token%26scope%3Dopenid%2520profile%2520wallet%253Atransactions%253Aread%2520trade%253Aread%2520trade%253Acreate%2520wallet%253Aaddress%253Acreate%2520wallet%253Aaddress%253Aread%2520wallet%253Atransactions%253Asend%26state%3Da0c4ba51dad849b09d5f6204dae3bfde%26nonce%3Dece01ccde6434eac8ef9637c6065682c\">Trade Now<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Introduction Bitcoin is the first crypto asset released to the public. Bitcoin is the gold standard for the crypto community. Since its inception in 2008, it has been rallying hard both towards total valuation and price. Bitcoin\u2019s limited availability and a deflationary economic model support the rising purchasing power over time. This makes Bitcoin attractive [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":22705,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[14],"tags":[16],"class_list":["post-22704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-crypto"],"acf":[],"_links":{"self":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts\/22704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/comments?post=22704"}],"version-history":[{"count":1,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts\/22704\/revisions"}],"predecessor-version":[{"id":22707,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts\/22704\/revisions\/22707"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/media\/22705"}],"wp:attachment":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/media?parent=22704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/categories?post=22704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/tags?post=22704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}