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I feel it's also a pretty decent store of value. Now some people will probably want to tell me that it's a bad store of value, since the value can fluctuate qui
by wsc981 6y ago
I feel it's also a pretty decent store of value. Now some people will probably want to tell me that it's a bad store of value, since the value can fluctuate quite a bit on a day-to-day basis. Sure that true, but in the long run I am confident the value will only go up, whereas many fiat currencies will only go down, especially now due to QE (basically printing money) that's happening in Eurozone, the US, and many other regions [0][1] in the world as well.
So in my view, it's pretty nice as an alternative to holding gold. Gold can be nice as well of course, but it's difficult to transport. If you keep gold in your home, at some point someone might break into your home and steal your gold. You could pay some company to store your gold, but perhaps in times of crises a government might step in and claim some of your gold.
Crypto currencies can be easily held in a digital wallet or people can even just memorise the keys to their wallet in their brain. It's hard for governments to control crypto currencies and I'm sure some of the wealthiest people in the world now keep a certain small percentage of their wealth in cryptos as well as a hedge against fiat currencies, stock market crashes, etc...
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[0]: https://news.bitcoin.com/venezuela-bitcoin-use-hyperinflation-crypto-adoption/ https://news.bitcoin.com/venezuela-bitcoin-use-hyperinflatio...
[1]: https://www.financemagnates.com/cryptocurrency/the-impact-of-inflation-on-crypto-adoption/ https://www.financemagnates.com/cryptocurrency/the-impact-of...