As we all know, bitcoin has been trending for a long time now and has been recognized by nation's and individuals globally. Irrespective of the fact that bitcoin is a digital currency, it is highly volatile and risky and if you must invest in it, you must use your spare cash or funds which you can be able or afford to loose. Many people use bitcoin as store of value ie they use it to store their assets and wealth after converting from Fiat to bitcoin. It is otherwise a savings account to many as they see it so. With bitcoin your privacy is guaranteed compared to the Fiat which you must pass through processes before having access to it.
Fiat is stable enough to sustain it's monetary value but can not guarantee a stable economy as it was designed for. Fiat exchange value varies between nation's as it is measurable in the economical value each nation has and is contributing to the global market GDP but as a national tender it is, it is still of value because that is the only means by which one can exchange for goods and services compared to bitcoin depending on the country in which you are if they truly recognizes bitcoin as a legal render.
As bitcoin is, it has the tendencies to appreciate high in price compared to fiat which is stable, bitcoin has no third party custody unless you have it stored in exchange if not you are solely incharge of it which means you have your private keys and phrase under your custody compared to the fiat which is been held by banks and other financial institutions.
As a bitcoin enthusiast having the knowledge of bitcoin and it's potentials compared to the fiat as a local currency and means of exchange or payment for services rendered what is your take and preference on it? And how long do you think it will take for bitcoin to be accepted as a digital legal tender world wide?
You opinions and thoughts are welcomed, let us discuss.
