“I dunno….I bought a new Silverado Trail Boss a few years ago with dollars that came from bitcoin sales. Isn’t that “wealth?”
Yes, and it is now a depreciating asset. Not that there is anything WRONG with that!
I needed the truck and didn’t take a loan out…
I guess the thing with my experience with bitcoin is that the cycle of ups and downs is pretty regular. During the last cycle, bitcoin was always touted as losing 50% and people mocked it. At the same time, Netflix was down more on a percentage basis.
The Silver peak in 2008 (or so) was about $50 and it dropped back to the teens. Just in the last year or so has it risen again. And now…it’s lost about 30% from the highs.
All “speculative” plays have these characteristics. But don’t be beblind to the fact that you need to reap a little bit at the peaks and distribute them elsewhere.