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5 Reasons You Need at Least 1 Bitcoin
Bitcoin has attracted many investors due to its incredible long term profits, but its volatility has kept some investors on the sidelines. This leading cryptocurrency often experiences sharp fluctuations that can push it up or down by 10% in just a few days. Not every investor wants to deal with that level of volatility, but you cannot doubt the results when compared to popular benchmarks such as the S&P 500 and Nasdaq Composite. This cryptocurrency has also recently regained $100,000 per coin and could rise even higher. The long term profit of Bitcoin is truly impressive. Although Bitcoin does not generate revenue and grow net income like public companies, the profits are undeniable. Bitcoin has increased by 68% over the past year and soared by 978% over the past five years. The S&P 500 and Nasdaq Composite have not even doubled in the past five years. Bitcoin has proven to be a viable way to double your money. Although results are not guaranteed, many investors use long term profits to assess the momentum and demand from investors for an asset. Bitcoin has achieved its goals for a long time despite the surrounding narrative of uncertainty. Big Players Are Getting Involved Last year was a big year for Bitcoin. Spot Bitcoin ETFs began trading on January 11, 2024, and many financial institutions quickly offered their own ETFs. BlackRock, Fidelity, ARK Invest, VanEck, and Grayscale are some of the companies that launched Bitcoin ETFs. Each of these ETFs invests more money into Bitcoin and that leads to upward price pressure. Bitcoin ETFs have made digital currency more accessible to everyday investors and this trend could push the price of Bitcoin higher in the long term. Strategic Bitcoin Reserve President Donald Trump has established the Bitcoin Strategic Reserve Fund through an executive order. This strategic reserve fund could boost demand for cryptocurrencies and bring more profits to investors. Although the Bitcoin Strategy Reserve is relatively old news, it can spread to each state. For example, Arizona has recently become the second state in the United States to create a Bitcoin Strategic Reserve. Many other states may follow this trend, and each commitment requires more Bitcoin purchases. Bitcoin is an inflation hedge Bitcoin also serves as a valuable hedge against inflation, providing more value as central banks print more money. There are only 21 million Bitcoins available, and no one can increase the supply. That is the beauty of Bitcoin's decentralized blockchain. Investors looking for a historically successful asset that can mitigate inflation risk may want to take a closer look at this alternative asset class. The premise of a global currency is appealing. A common currency allows people to have more control and enables them to avoid foreign exchange fees. If an American goes to the United Kingdom, they have to pay a fee to convert their US dollars to British pounds. Then, if you travel to any country in the European Union, you have to convert some of your remaining US dollars or British pounds to euros. This is a cumbersome and expensive process for those who frequently travel and shop. Some credit cards also have foreign transaction fees that increase costs for transactions that do not require paperwork. Bitcoin avoids those fees when used for purchases. The long term premise of this cryptocurrency attracts those who want to save on foreign exchange fees. Currently, Bitcoin is still in the early stages compared to fiat currencies. At some point, the annual growth rate of Bitcoin will slow down. However, the nature of Bitcoin as a popular currency will drive its appeal in the coming years.