It sure does make sense! Two years ago Bitcoin was at around £300-£400 mark, and of course today at the time of writing this it’s valued at around £1,026 per Bitcoin. So the growth within the year has been incredible.
Of course, as with any investment (if you intend to use Bitcoin as an investment vehicle) you need to go in with your eyes open. So what I mean by that is actually understand the technology at more than just surface level. Understand what you’re buying into! By doing that it’ll help you make up your own decision as to whether you believe in the technology, and whether you should invest or not.
The recent Winklevoss ETF decision, which was a rejection, showed how Bitcoin is maturing from a value stand point. A decision such as that a few years ago could’ve crashed the value a lot more, however many were pretty surprised as to the effect it had. The value didn’t drop as much as people were expecting. Just so you’re aware there has been discussions of a potential Bitcoin Hard Fork, which will almost certainly effect Bitcoins value, but we don’t know which way that’ll go yet. As I mentioned, Bitcoin is constantly maturing!
If you look at any negative global political event, it generally has increased Bitcoins value. A recent event that comes to mind is where citizens in India were limited to the amount they could withdraw from banks, that helped increase Bitcoin value as well as user numbers in India.
As a technology it’s important to know that Bitcoin is constantly evolving, and new users are getting turned onto Bitcoin all the time. I actually just read a piece today that Bitcoin users are generally doubling every 12 months which is only good news for the ecosystem.
But back to investing, if you’re investing for the long-term which is what I’m doing, I feel it’s a good move. You could even spread your investments over a period of time, should you not feel comfortable in investing a large amount up front (I made a YouTube video on that at this link: My Bitcoin Investment Strategy: Dollar Cost Averaging), at least that way you have skin in the game, and continue to involve yourself more in the ecosystem.
Some notable guys to check out when it comes to Bitcoin value predictions are the following: Vinny Lingham, Trace Mayer, and Max Keiser. There are quiet a few people out there who have made pretty accurate Bitcoin value forecasts over time.
Hope that helps!