The question you ask exists not perhaps from the first day or the genesis block, but from the moment when Bitcoin became known to a wider circle of people and when, in addition to the technological aspect, they began to speculate on possible monetary benefits. Today, most of the discussion is exclusively about price, while few are still working on the development and improvement of Bitcoin, which, although at its core, is the same - improved and adapting to some new times. This is a very important fact as a counter-argument against those who claim that Bitcoin is becoming technologically obsolete and that it will be replaced by some new super coin.
It is difficult to predict whether some countries (except El Salvador) have already invested in Bitcoin in some way, or will do so in the future - but all those waiting to see the moves of central banks will remain behind enemy lines if that ever happens. The key thing is to do it before them because the more BTC there are in the wallets (non-custodial) of ordinary users, the less will remain for those who are today in the vast majority against the decentralization that Bitcoin represents.
We who have owned Bitcoin for more than 5 years have certainly not regretted it and can serve as a representative example and an adequate answer to the question. I think it is not at all doubtful that everyone should consider investing a certain percentage that they keep in FIAT in BTC, because paper loses value and no one can dispute that, while BTC does just the opposite.
Of course, the future is uncertain, but everyone must ask themselves what brings them greater security - money in the bank or Bitcoin in the crypto wallet.
Topic: Is it time to own bitcoin? (Read 65 times)
Disclaimer: I own some bitcoin and this is not investment advice.
Source: https://omid-malekan.medium.com/it-is-time-to-own-bitcoin-909b683dff51
information provided below is a summary of that article and may be slightly different from the author's point of view. Please refer to the source.
Sure, the crisis in Ukraine made things worse, but consumer prices in the US and around the world were already rising before the invasion. This inflation, like most inflation, is primarily a monetary phenomenon, and those who blame it for problems such as supply chain disruptions are only telling half the story. Case in point: 2021, the year that ended 40 years of high inflation, also saw record global trade, with 13% more goods delivered via global supply chains than before the pandemic.
Bitcoin is attractive at this time because it is the first currency in history whose supply is controlled by a decentralized protocol, and thus, its core inflation has been fixed. This is a stark contrast to all the other coins out there, where central bankers in day trading are printing money with less deliberation than a group of friends who decide to have dinner.
Bitcoin's inflation hedge isn't just about the direction of interest rate movement, it's about the race between rising prices and (exacerbating) inflation. For example, if the Fed raises short-term interest rates from 0 to 2%, but inflation peaks at 10%, then dollar savers are still losing significant purchasing power. So the question we have to ask is whether central banks around the world have the resources to raise interest rates enough to tame inflation, especially now that it has been rising faster because of the war.
Resisting Bitcoin Censorship and Apolitical Structure in a Time of Fragmented Global Monetary System. The economic response to Russia's vicious invasion of Ukraine - regardless of its merit - represents a fundamental change in how countries interact with one another. It calls into question the dollar's standing as a reserve currency, a trend that began slowly unfolding decades ago but is now accelerating. The unprecedented freezing of Russia's foreign exchange reserves is something that will stop every other country that has large dollar reserves but pursues policies opposite to American ideals, such as Saudi Arabia and China.
What they need is something neutral like gold that can be converted as easily as dollars but without having to rely on a politicized banking system. Now there is a blockchain for that.
Bitcoin's apolitical structure and resistance to censorship, whereby no one can block access to anyone, makes it a potential candidate. I say potential because there are many unknowns about how to use it as a reserve currency and international trade
After several years, we can see a situation where many central banks hold a small portion of their BTC reserves, partly to benefit from its rise against inflationary currencies like the dollar and the euro, and mostly so that they can make payments regardless of the geopolitical situation. If this fact materializes, we will see countries, good and bad, adopt bitcoin - as is the case with the dollar today.
Owning Bitcoin is not only a sound investment strategy but also a way to perpetuate something positive: funds designed to benefit the user, not the source.
The author of the article presented the arguments represented by the inflation crisis, the freezing of funds and assets, the decentralization of Bitcoin and the need of many countries for Bitcoin as part of their reserves.
If countries put less than 1% of that money into Bitcoin, we could see global adoption.
Source: https://omid-malekan.medium.com/it-is-time-to-own-bitcoin-909b683dff51
information provided below is a summary of that article and may be slightly different from the author's point of view. Please refer to the source.
Sure, the crisis in Ukraine made things worse, but consumer prices in the US and around the world were already rising before the invasion. This inflation, like most inflation, is primarily a monetary phenomenon, and those who blame it for problems such as supply chain disruptions are only telling half the story. Case in point: 2021, the year that ended 40 years of high inflation, also saw record global trade, with 13% more goods delivered via global supply chains than before the pandemic.
Bitcoin is attractive at this time because it is the first currency in history whose supply is controlled by a decentralized protocol, and thus, its core inflation has been fixed. This is a stark contrast to all the other coins out there, where central bankers in day trading are printing money with less deliberation than a group of friends who decide to have dinner.
Bitcoin's inflation hedge isn't just about the direction of interest rate movement, it's about the race between rising prices and (exacerbating) inflation. For example, if the Fed raises short-term interest rates from 0 to 2%, but inflation peaks at 10%, then dollar savers are still losing significant purchasing power. So the question we have to ask is whether central banks around the world have the resources to raise interest rates enough to tame inflation, especially now that it has been rising faster because of the war.
Resisting Bitcoin Censorship and Apolitical Structure in a Time of Fragmented Global Monetary System. The economic response to Russia's vicious invasion of Ukraine - regardless of its merit - represents a fundamental change in how countries interact with one another. It calls into question the dollar's standing as a reserve currency, a trend that began slowly unfolding decades ago but is now accelerating. The unprecedented freezing of Russia's foreign exchange reserves is something that will stop every other country that has large dollar reserves but pursues policies opposite to American ideals, such as Saudi Arabia and China.
What they need is something neutral like gold that can be converted as easily as dollars but without having to rely on a politicized banking system. Now there is a blockchain for that.
Bitcoin's apolitical structure and resistance to censorship, whereby no one can block access to anyone, makes it a potential candidate. I say potential because there are many unknowns about how to use it as a reserve currency and international trade
After several years, we can see a situation where many central banks hold a small portion of their BTC reserves, partly to benefit from its rise against inflationary currencies like the dollar and the euro, and mostly so that they can make payments regardless of the geopolitical situation. If this fact materializes, we will see countries, good and bad, adopt bitcoin - as is the case with the dollar today.
Owning Bitcoin is not only a sound investment strategy but also a way to perpetuate something positive: funds designed to benefit the user, not the source.
The author of the article presented the arguments represented by the inflation crisis, the freezing of funds and assets, the decentralization of Bitcoin and the need of many countries for Bitcoin as part of their reserves.
If countries put less than 1% of that money into Bitcoin, we could see global adoption.
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