Why It’s Not “Too Late” to Buy Bitcoin

7 min readJan 15, 2021

*This post is my personal opinion. I am not a financial advisor. Please speak with your financial advisor for investment advice.*

2021 started as an incredible year for bitcoin. The bitcoin price reached an all-time-high (ATH) of $53,000 CAD and the crypto market cap finally hit $1 trillion dollars.

The hype around bitcoin’s price led some of my friends to privately DM me to explain whatever the hell bitcoin is. Off I go with the simplest yet most descriptive explanation I can summon, followed by asking “are you thinking of buying bitcoin?”

“No, bitcoin is too expensive. Maybe next time.”

I find this statement a little disheartening for many reasons:

I know too much to know this will likely not be the highest price we’ll see.
I find Bitcoin to be a powerful technology and investment and I don’t want loved ones to miss out.
It’s never too late to start saving or investing.
You don’t have to buy a full bitcoin because you can actually just buy fractions.

For these reasons, I decided to write about why it may not be too late to buy bitcoin. It’s dedicated to my friends and all our readers at Netcoins curious about investing in bitcoin but hesitant to because they’re “too late.” Here’s the thing:

You’re not too late… You’re right on time.

Investing in Bitcoin is a Marathon

As there are gains to be made, there are also losses to be made with bitcoin. It’s the nature of all investments.

Having said that, you probably won’t find an asset or a form of investment that will yield results like bitcoin does. There may never be an investment like bitcoin again in our lifetime or in the many lifetimes to come.

Let’s compare bitcoin to gold, a ~4,000 year old asset. Currently, the market cap for gold is around $10 trillion. “On January 8, 2021, Bitcoin also broke its record in terms of market cap, reaching almost $780 billion.” — Sylvain Saurel (bitcoin developer).

When bitcoin reaches the current gold market cap, it’s price is expected to be around $540,000. It’s a matter of time before the world keeps going more digital, and people start accepting bitcoin.

But bitcoin may not stop after overtaking gold. Michael J. Saylor (CEO of MicroStrategy) believes that once bitcoin passes the gold market cap, bitcoin will continue to eat the market cap of other markets, showing once again how early we are with bitcoin.

Bitcoin is a marathon whose whistle has just blown… It’s just getting started.

What is Bitcoin? In a Nutshell

Bitcoin is:

A cryptocurrency, or digital money (meaning it doesn’t exist as physical bills or coins).
It’s the first and most popular cryptocurrency.
There will only exist 21 million coins. This scarcity in supply is what gives it value (and it’s high price)
While digital money, bitcoin is not (yet) being used as currency to transact with. It might never get there.
Instead, bitcoin is a hedge and an investment.
Bitcoin cannot be manipulated by humans (because it’s all hard-coded).

If you’re looking to learn more about bitcoin, check out an article I wrote called “WTF is Bitcoin?” and check out our Crypto Academy for all things crypto and blockchain.

Why You’re Not “Too Late” to Invest in Bitcoin

The problem with bitcoin is that you can never really buy at a good price because it’s impossible to know what the best price is.

Bitcoin keeps being the best-performing asset each year, and is now the best performing asset of the decade.

More and more institutions and investors are claiming bitcoin’s price to continue climbing up, for example:

According to JPMorgan Chase & Co, bitcoin has the potential to reach at least $146,000 USD in the long term as it competes with gold as an asset class.
Bitcoin investors and entrepreneurs, the Winklevoss Twins, said “we could see a price of $500,000 U.S. dollars per bitcoin.”
A Dutch institutional investor (with a legal and quantitative finance background) and currently working as an investment manager, “PlanB,” predicts bitcoin to be on the path to $1,000,000 USD.

If these predictions are correct, then I will stand by what I’m saying: You’re not too late. You might just be on time.

Can bitcoin go down to $0? Yes, but it’s highly unlikely. It’s technology and mission is so powerful that what we’re seeing today is more institutional investments pouring money into bitcoin and governments trying to figure out how to join the revolution because “if you can’t beat them, then join them.” In 2020/2021 we’re seeing bitcoin mature as an asset.

Bitcoin is not dying. Quite the opposite, it’s getting more steam. Once you see the power of bitcoin you can’t un-see it. Just like you can’t turn an omelette back into eggs.

How Do You Decide How Much Money to Invest into Bitcoin?

The answer is: it’s completely up to you!

How much you invest will depend on your level of risk and on the funds you’re willing to lose (among many other factors). There are a few ways to set an investment strategy for bitcoin. You can:

Start by dollar cost averaging in: Buy a set amount of bitcoin each day, or week, or month. You can decide for example, that in 2021 you will put $1,200 CAD into bitcoin. So you decide to buy $100 worth of bitcoin per month until you reach $1,200. With this approach you smooth out the price you get into bitcoin at (without losing your mind or stressing about the price).
Set a percentage of your wealth into bitcoin: It’s important to diversify your portfolio in order to de-risk your wealth. Some people choose to put 1% or 10% or X% of their wealth into bitcoin (and the rest in stocks, real estate, etc). If you’re going down this route, consider putting a percentage that feels comfortable for you and that you know you will be ok with potentially losing.
Buy when the price lowers (called “buying the dip”): You can choose to stare at the screen all day waiting for the perfect moment to buy the dip or with Netcoins, you can set price alerts and limit orders.

*Price alerts notifies you of real-time changes happening with the price of crypto. For example, you can set notifications for when when bitcoin reaches $30,000 or makes a percentage move (like 10% in the last 24 hours)

Limit orders allows you to buy or sell at a certain price. For example, “Buy $200 when Bitcoin reaches $35,000.”
*These parameters are set by you based on your preference.

A common misconception is that you need to buy 1 full bitcoin to buy. You don’t have to save the full $40,000 CAD (or whatever the price is) to start investing in bitcoin.

You can actually just buy a fraction of a bitcoin, which allows you to invest as little as $100. So even if you’re a little nervous about putting your money into bitcoin, you can start out small.

Where do you go to buy bitcoin?

The most common way to buy bitcoin is through an online exchange or brokerage that allows you to trade cryptocurrencies. At Netcoins.ca, you can deposit Canadian Dollars straight into your Netcoins account and convert that to Bitcoin. It’s similar to how you would exchange CAD for USD, but it’s all done online. You can also get amazing support from the Netcoins team via live chat, phone or email.

A Final Word

There will be more highs and lows to come with the price of bitcoin. So what can you do about it if you haven’t already invested?

Remain calm. Understand first what you’re about to invest so you can weather the storm (and strengthen your investment muscles). Then begin investing with whatever feels comfortable for you. Have a long-term strategy and an exit plan. Having these things in place will make it easier to listen to yourself instead of the critics who use bitcoin’s growing pains as easy click bait strategies.

And above all remember, there is no perfect time to enter the market because “time in the market beats timing the market.”

** Thanks so much for taking the time to read my article! If you enjoyed reading it, you can support me by giving this article a bunch of claps. You can also follow me on Twitter for more updates and lessons on Bitcoin. Thanks for reading ❤