Is Bitcoin the Safest Crypto to Own Right Now?
The world's top cryptocurrency is still safer than the smaller altcoins.
Is Bitcoin the Safest Crypto to Own Right Now?
Overview
Bitcoin (CRYPTO: BTC), the world's most valuable cryptocurrency with a market cap of $1.3 trillion, is often considered the safest digital token to own. But over the past 12 months, it's lost nearly 40% of its value amid fears of interest rate hikes and other macro headwinds. Is it still a safe cryptocurrency to buy, or should investors stick with more stable assets?
Bitcoin is mined using the energy-intensive proof-of-work (PoW) consensus mechanism. Its miners use powerful computer chips to solve cryptographic puzzles and earn the tokens as rewards. More than 20 million of its maximum supply of 21 million tokens have already been mined, and it becomes increasingly difficult to mine every four years with a scheduled "halving" that cuts its mining rewards in half. Its most recent halving occurred in 2024.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
- Trump celebrates turning 80 with a UFC cage-fighting event while big issues loom over his presidency
- As Artificial Intelligence (AI) Stocks Drive the Market Higher, Is Now the Time to Buy? These 9 Words From Warren Buffett Might Change Your Mind.
- Tilray Is Growing 73% Internationally. The Market Is Paying Almost No Attention. Is That a Mistake?
