Why #bitcoin?
The following words are my own opinion and not a financial advice. Do not invest blindly based on statements from any individuals. Do your own research.
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The following words are my own opinion and not a financial advice. Do not invest blindly based on statements from any individuals. Do your own research.
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This is a short summary why I rather buy bitcoin than gold or other assets. To answer this question the way I am trying to answer it, I had to get away from asking myself what would be the best investment for me.
Instead, I wonder what I would do if I had unimaginable amounts of cash.
You have to protect this money from the inflation. I personally have to exclude shares, because I don't have the time to study companies in detail.
You have to protect this money from the inflation. I personally have to exclude shares, because I don't have the time to study companies in detail.
As an inflation hedge there are #Bonds, #Gold and #Bitcoin . Bond yields eaten up by inflation.
Have a look at Gold. Gold has proven itself for a long time and is very likely to be a very good inflation hedge. Nevertheless, I see a few disadvantages.
Have a look at Gold. Gold has proven itself for a long time and is very likely to be a very good inflation hedge. Nevertheless, I see a few disadvantages.
To be the owner and holder, you have to hold it physically. Assuming hundreds of millions of dollars, where do you keep the gold bars? I need an institution that I trust to hold the gold. What if I want to transfer gold.
If this is done digitally, it must be settled from an Institution. So I have to trust someone again, have high fees and the transaction can take several days. A "real" transfer would mean to transport the bars physically - imagine the effort, costs and execution time.
Especially across countries. With all the points I have to trust someone.
With #Bitcoin I don't have these disadvantages. Since it is digital by nature, I can easily store it (without fees), transfer it with low fees and between 10 min and 1 h (even across countries) and I am always the owner and holder.
If a custody service is necessary, I have also fees(e.g. because of regulations or because I do not trust myself to keep the keys). But because of multi-sig wallets I can define exactly what is necessary to perform transactions.
For example, for a 2/3 MultiSig wallet, it requires two signatures from three selected individual to enable a transaction (en.bitcoin.it/wiki/Multisignβ¦). Once defined it all will be handelt decentral from the Bitcoin protocol. I don't have to trust somebody
TL;DR: for me #bitcoin is the better choice because of its decentralized nature and the fact that #bitcoin is digital by nature - even at 50k
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