The market capitalisation of Bitcoin hit USD1 Trillion in early 2021, reaching USD 61,683.86 all times high on 13 March (data from coinmarketcap.com). 1 year return as of 10 Apr 2021 was 772% and 5 year return was 14,075%. It was USD 1 in 2011.
Why is Bitcoin so expensive ?
Bitcoin has a limitation of issuance. Only 21million will be mined eventually, and there are around 18.5million coins have been created since inception. The supply of Bitcoin is shrinking.
Shall I turn my loyalty points into Cryptocurrency ?
People buy Bitcoin because of their faith to Blockchain technology with the idea of decentralisation. Some buy Bitcoin to hedge against inflation. Other buy it to diversify their investment portfolio.
When more money are printed by governments around the world, people will demand more Bitcoin to preserve their purchasing power. When Bitcoin price goes up, hedge fund managers will need to invest a portion of their portfolio into Bitcoin in order to diversify portfolio and earn a better return.
DragonBite has a suggestion. If you have loyalty points expire soon or a small number of air mileage or any old in-game asset, why don’t you convert those scattered digital assets into Bitcoin or other Cryptocurrency? DragonBite offers you a very good opportunity to invest a small portion of Bitcoin with a very reasonable transaction fee.
DragonBite is an truly open-loop decentralised digital asset management platform as well as wallet which has directly connected with Crypto exchange via a licensed gateway. It is compliant with compliance rules such as the General Data Protection Regulation (GDPR) & the Personal Data Privacy Ordinance (PDPO), the Anti-Money-Laundering (AML) standard and the Know-Your-Client (KYC) standard.