I didn’t have the money to invest in Bitcoin until it had gone crazy, but the other reason is this:
Let’s say you invest in Real Estate or an index fund. A bad economy can take a HUGE portion of your investment, but, unless you’re retired and living off that investment, you can always ride it out until the investment returns to a reasonable valuation.
There is no reasonable value of Bitcoin.
There’s a good chance that Bitcoin’s value reverses itself and soars to ever-greater heights. But there’s also a reasonable chance that this when people see Bitcoin as nothing more than the world’s most expensive NFT. That’s a casino-style gamble for people younger than me.
For all the claims that the dollar no longer represents anything tangible either, it represents a certain portion of the U.S. economy and has a history dozens of times longer than Bitcoin.
The dollar's value is backed by the full faith and credit of the federal government. The full faith and credit of the federal government is backed by the taxes they extract from the economy. The economy is backed by the needs and wants of Americans and the world that wants American goods.
I'll take the dollar over a computer algorithm backed by nothing.
Not sure I am yet willing to call BTC the most expensive NFT or pet rock right now, but I never understood the NFT scam craze.
Therea are other tokens that will become a part of the economy and many people will be using without even knowing it. Tokenization is already happened in other countries. For older folks, they will have a hard time understading, but younger generations will have the opportunity to own assets that they do not have access to today.