Currency is a token of barter. Nothing more, nothing less. Like a generally accepted IOU.
Bitcoin/cryptocurrency is a recorded digital currency, but the value and purpose of such recording is specious. And as a stable medium of exchange, it isn't. Its value is all over the place.
You are not wrong to be skeptical.
I have made a little money trading a Bitcoin ETF lately. It’s definitely an asset to be played with gambling money only, but someone I know turned a small ‘bet’ into a big return. I just cautioned him to cash in some of his winnings from time to time.
“Bitcoin/cryptocurrency is a recorded digital currency, but the value and purpose of such recording is specious. And as a stable medium of exchange, it isn’t. Its value is all over the place.”
Is the value of Bitcoin pegged to anything? Such as gold? I looked at a chart of Bitcoin expressed in dollars. It has gone up and down but generally up. However, there are many stocks that have done better.
By the way, Bidenflation is real. In the last four years we started going to the grocery store with a $100 bill getting cash back, as an alternative to going to the ATM for cash. Now we need two $100 bills. We need deflation to get back to where we were. I think DJT can do that at the pump, which should help generally.