Digital asset is a new asset class compared to traditional asset such as bond, stock and property. Its features are non-physical and can be transacted online. Some popular digital assets include cryptocurrency (e.g. Bitcoin), collectibles (e.g. Cryptokitties), website domain name, digital land and the list is expected to continue growing.
Bitcoin is our first cryptocurrency that popularize Blockchain technology, which in return propels the popularity of digital asset. I stumbled upon Bitcoin in early 2017 but hesitated to act on it because it was troublesome to purchase it. In Oct 2017, I remember how surprised I was when Bitcoin was sold at a staggering US 4,000. Surely its 10 years presence in the market and massive price rises would meant something at least? That triggered me to learn about Bitcoin and digital asset space. I even had the thoughts to mine my own Bitcoin. I begin investing in cryptocurrency in Dec 2018 after seriously researching on the materials I could get from the internet and making my own hypothesis about its potential.
The digital asset space is new. It’s easy to throw spanners into its work. Rather than doing that, I will give it a benefit of doubt and put on my long term investment cap. Here, I will be populating a series of articles about digital assets that serve to remind me why I started (and will continue) to invest in this space. On the flip side, it is to remind me of its risk & downside into a tulip mania case.