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This article makes a point that doesn't need to be made, it's stating the obvious. Quite obviously most crypto traders/investors use the dominant fiat currency
by fleddr 5y ago
This article makes a point that doesn't need to be made, it's stating the obvious. Quite obviously most crypto traders/investors use the dominant fiat currency to track their wealth. Even a deep believer in crypto does so, as a frame of reference. The chart is BTC/USD, and that is what everybody is looking at, nobody stated otherwise.
USD denominated wealth is also a requirement for managing taxes and USD equivalents like stablecoins are used to survive deep dips and progressively take profit on the way up...so that you have "dry powder" to buy the next dip.
There is however a sizable group that does denominate their wealth in crypto: those that dollar-cost-average. For Bitcoin, also called "stacking sats". They express their progress in crypto, not in USD, as the USD input is fixed.