It’s easy to forget with the surging popularity of cryptocurrency, that it has only been with us since 2009, when Bitcoin, created by Satoshi Nakamoto, first hit the market. Today we have blockchain technology and 4,000 different types of cryptocurrency, but it is still, in historic terms, a relatively new field. As such, the future of cryptocurrency is uncertain and open to interpretation, but if anyone can second guess what twists and turns lie ahead for the digital currency, it’s entrepreneur Rahul Chauhan(Baba).
Rahul has been investing in cryptocurrency since 2013 and now advises others how to use it strategically to generate great wealth. He believes crypto is here to stay but warns there are a few things we should bear in mind about its future.
“Crypto was born out of the 2008 financial crisis,” explained Rahul. “At the time, many individuals were disillusioned about the existing financial infrastructures and were reluctant to trust banks. Bitcoin provided a perfect alternative. It was a currency that gave people a real sense of ownership and cut out the interference of a middle party. Upon being introduced, Bitcoin was worth $1, it is now valued at over $50,000. The figures speak for themselves. And with individuals like Tesla billionaire Elon Musk getting involved, I think cryptocurrency is going to go from strength to strength.”
The uncertainty and doubt cast by the COVID-19 pandemic did not appear to negatively affect cryptocurrency. In fact, according to Rahul, the opposite proved true.
He explained, “I think the pandemic was another turning point. People lost faith in the old way of doing things, either by choice or necessity, and more and more individuals began to adopt cryptocurrency as part of the new normal.”