Cryptocurrencies: Their Current Validity and Future as Currency and as a Part of an Investment Strategy

This paper examines the current and future prospects of cryptocurrencies with a focus on the most well-known and highest valued cryptocurrency, Bitcoin. Specifically, it will address how Bitcoin can be utilized as a currency and as part of an investment strategy and whether its utilization makes financial sense now and will in the future. The paper showcases the past behavior of Bitcoin, how the Bitcoin system functions, how Bitcoin acts as a currency, how Bitcoin can be used as an investment asset, and why it will continue to be employed as such in the future. This paper will show that using cryptocurrencies as a transaction method and holding them as a part of an investment strategy has the potential to gain in popularity and result in an increase in value of cryptocurrencies in the future