Social 📈 Crypto

[Warriorsfan92]

Isn’t it supposed to be a store of wealth?

fundamentally it’s a bet against inflation. If you look at its introduction, it’s extremely hard to fight against this narrative..

 

[wizard of Tauranga]

fundamentally it’s a bet against inflation. If you look at its introduction, it’s extremely hard to fight against this narrative..

- First it was a currency - but nobody used it.
- Then it was a store of wealth like gold but it keeps dropping when the stock market does.
- Now it’s a hedge against inflation that crashed from 2022 to 2024 with high worldwide inflation?

 

[Warriorsfan92]

- First it was a currency - but nobody used it.
- Then it was a store of wealth like gold but it keeps dropping when the stock market does.
- Now it’s a hedge against inflation that crashed from 2022 to 2024 with high worldwide inflation?

I guess so bro yeah, it’s certainly complex. It feels like a tech ipo that’s in a bubble, much like the .com bubble. Fundamentally it was created as a hedge against inflation, with limited supply & therefore supply/demand. It’s morphed over time, but I still think its main feature is hedge against inflation thus a storage of wealth. You can argue it has no use, however you can buy items with bitcoin, and it’s getting more and more widespread. My local pharmacy takes bitcoin payments. Again, it’s one of those high risk high reward plays, that you have 1-5% portfolio exposure so you don’t miss the ride but also it doesn’t destroy you if it goes down. Classic methods of DCA. It’s now past The point of it’s going to zero, that’s not happening. It’s got some big crashes in it still too. With such widespread adoption, even countries buying it up in bulk, I can’t see the 80% crashes. And ultimately, it’s a bit of fun. If you’re not enjoying it, you’re too heavily invested - emotion should’ve be involved in your financial investments. Not saying you personally, but in general.

 

[Dannevegas]

Ski mask stays on!!