Looking for somewhere to invest your money this year? It could be time to make like the ultra-rich and throw your weight behind Bitcoin – the cryptocurrency that has been making waves for over a decade now, and that has won itself a legion of savvy supporters who undoubtedly know their stuff. Initially a gimmicky concept that went largely unnoticed by London currency traders, it wasn’t until 2010 that it came into the limelight, with early adopters at the time investing quickly and seeing handsome rewards for their fearlessness. Making numerous overnight millionaires shortly afterwards, many of whom were young millennials only just getting started in building their portfolios, it heralded the beginning of a new era of cryptocurrency trading.

But while many of those clamouring to get a slice of the Bitcoin pie and make a fortune in the early days were relative novices, other, more experienced market professionals had their interest piqued by something other than the potential long-term returns of Bitcoin itself. The blockchain technology that bitcoin is based on, and for those in the know, it presented a potentially huge opportunity that could disintermediate financial markets.

The Crypto Craze

No longer viewed as a weird digital fad that would never take off, it has fast become one of the most sought-after assets for investors and traders. Fast forward to today, and Bitcoin and other cryptocurrencies have officially gone mainstream. No longer viewed as a weird digital fad that would never take off, it has fast become one of the most sought-after assets for investors and traders of all kinds. Earlier this year, Bitcoin value spiked, with an eye-watering 600 per cent value increase over the past twelve months alone.

Unsurprisingly, this has led to increasing interest from affluent, high-net-worth individuals looking for somewhere savvy to invest their cash. Currently, some of the world’s wealthiest crypto investors include the likes of Tom Draper, Sam Bankman-Fried and Brian Armstrong – but the list, in its entirety, is endless. While some were some of the first to spot the chance to turn a profit, others were a little slower off the mark – but even those who have invested in the past couple of years are already reaping the benefits.

Cryptocurrencies have also become an attractive store of value for financial institutions, with the likes of Goldman Sachs already trading and CitiGroup also thought to be considering making the move. Nonetheless, it hasn’t all been plain sailing; in May of this year, crypto-currencies took a hit, with a rapid sell-off creating turmoil and unrest far and wide. But given the historic trends we’ve seen with Bitcoin, for many it’s all par for the course – and these enormous markets, which today total an eye-watering value of $1.6 trillion – are still as attractive a punt as ever.

For some, it is the future, and with copycat cryptocurrencies including Ethereum, Litecoin and XRP – as well as, more recently, Dogecoin, garnering an increasing level of attention, that might just be the case. Whichever way you look at it, the crypto market as a whole continues to go from strength to strength, and those who are in it for the long-haul remain unfazed by the latest developments.

The World’s Ultra-Rich Are Adding Fuel On Bitcoin Investment