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How… exactly? Really curious how holding Bitcoin helps attract investors in a general sense.
by yunohn 4y ago
How… exactly? Really curious how holding Bitcoin helps attract investors in a general sense.
- shyn3 4y agoBecause the currency of that country is crazy risky. Same in Turkey. I've heard Venezuela people convert their money to BTC right away. Inflation is so crazy your $2 can be worth $1 in 24 hours. Bitcoin protects from those massive spikes. As bad as Bitcoin sounds it's perfect for them because now the corrupt governments can't take advantage of their citizenry. You could go with Ethereum or other crypto but those aren't really decentralized.
- yunohn 4y agoGovernments use non-local currencies for trade investment, not as an investment. They’re not paying for anything in BTC, just holding. Non-resident citizens don’t need the gov to hold BTC to be able to exchange it amongst themselves - case in point, all the other govs that don’t hold BTC/etc.