You know, you can still go digital with high-quality source files. MP3 is lossy but at very high bitrates can be "close". But instead you can go FLAC, which is lossless, and still compress your CD files to store and play back at full fidelity.
Apparently it's a much larger file size than MP3, of course... But you can solve that by buying more/larger hard drives 
Yeah, that's one thing I was working on for my home server before it went kaput, and I haven't replaced the hardware enough to resume the project. I was trying to do all that during a time when financial resources were much more tight than they currently are. I got this NAS thingy and used two old drives that my wife happened to have and set them up in RAID.....????....I don't remember which number....whichever one means they're duplicated. They weren't that big on storage capacity, but they were big enough to hold our music, so although I could've gotten double the space, I chose to go with the array that would safely guard my files if one of the drives went ka-blooie.....which it promptly did after about two months of use.
Everything is still safe on the remaining drive, and it actually functions, but the NAS beeps constantly to let me know that the RAID is faulty, and there's no way to disable that. Plus, I'm not inclined to use that drive, because it might be my only remaining source for my files, and I can't afford to lose that. I interfaced with that NAS through my Linux laptop, which was an old, old Windows PC originally....and.....that also sort of went kaput about the same time. Not exactly, but the mother board is faulty to where you only get a few minutes after boot-up to do what you need to do, and after that the screen scrambles and you can't tell what you're doing anymore. The drive functions, you're just blind. So all my music was transferred from that to the NAS, but I can't really access it.
If I were a real nerd, I'd know how to pull that drive out and connect it to another PC somehow.....but my nerd credentials don't extend into that arena. My current laptop (at that time) had a pretty small hard drive, so I never kept my music on there. Meaning, my music files are present in two locations that I can't easily get to. My new laptop has plenty of space to house my music, so I'll probably just run the NAS from there when I get it going again.
But in the meantime, I won't be able to reuse that drive in the server anyway. As you undoubtedly know better than I, once you set the RAID, that's it, can't expand the space except by redoing the array and wiping whatever's there. I'm going to kick it up to a TB or 2......my wife has a bunch of DVDs that I figured I might as well stick on the server as well. That old drive is not nearly that big. So I've got to get my music from the mostly defunct laptop somehow, and start over.
I think I have a few more free total downloads from my Google Play account, but 1) Google Play got so stupid in the last 10 years that I can't stand to use it and can barely navigate it to find
my actual music, and 2) I'm not sure anymore if the Google Play is current with the most current version of my music library. I may have bought some stuff since I was using that.....can't remember.
Anyway, the point is I was going to try FLAC, though I wasn't sure how it actually worked so that my .mp3 and .m4a files expanded to a meaningful larger file size. It makes sense that a file can be expanded to a larger file type, yes, but I don't get how a compressed, lossy file can gain sound quality back. But whatever.
Spotify streams at 320, and I really don't think I can hear the difference between that and a .wav file. I'm not sure I can hear the difference between even 128 and a .wav. But, as I say, I'll have to test that out on my current speakers. It only just occurred to me that when I used CDs, I always had subpar speakers, home or car, and since I've had good speakers, I've only used streaming/.mp3 files.
I feel like at least a 1/3 of my library, if not half, is 128 bit rate files that I purchased from iTunes. I can't load up my entire library again from CDs, because it no longer originated from CDs. A nerd friend of mine said I could convert everything to FLAC, but that's where my earlier skepticism comes in.