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It's not about poor people. A huge number of middle class people aren't accredited investors. But they could easily put a small sum into a high risk investment
by jrs95 9y ago
It's not about poor people. A huge number of middle class people aren't accredited investors. But they could easily put a small sum into a high risk investment and potentially benefit greatly from it. Bitcoin is a decent example of this. There aren't any accredited investors regulations, and I highly doubt there's hardly anyone who bought so much of it that they'd go bankrupt if it became worth $0
- dmoy 9y agoI would be absolutely shocked if Bitcoin hit $0 and nobody came out of the woodwork sheepishly admitting that their investment strategy was "put 110% in Bitcoin". People go bankrupt on much sillier schemes than Bitcoin on a routine basis...
- skyfold 9y agoI already cashed out enough to pay for school, a new house, and a new car. My parents are farmers. Even if Bitcoin went to $0, the number of people who became wealthy vs broke would be skewed towards individuals becoming wealthy because the late money is primarily institutional.
- dnautics 9y agoThey won't go bankrupt because they aren't purchasing it using leverage.