If you want to save money, you should save Bitcoins and not Euros, Dollars, Swiss Francs or any other dirt fiat currency that loses 50% of its value every 20 years.
The money we have in our accounts loses value every year, whether we have to pay negative interest or not. Sometimes the depreciation is smaller, sometimes larger, but it is certainly always there. Why don’t people understand this?
Bitcoin keeps rising in value
Over the weekend, the Bitcoin price plummeted and the digital money fell to almost $41,000. A month earlier, we’ve reached an all-time high, scratching the $69,000 mark.
The President of El Salvador, Nayib Bukele took the opportunity to buy another 150 Bitcoins:
El Salvador just bought the dip! 🇸🇻
150 coins at an average USD price of ~$48,670 🥳#Bitcoin🎄
— Nayib Bukele 🇸🇻 (@nayibbukele) December 4, 2021
Of course Countries like El Salvador have resources in Fiat Currencies. Butwhy do Bitcoin HODLers still save money in Fiat?
Many Bitcoin investors on Youtube and Twitter also announced that they will buy now. It seems to me that most people still don’t get it. Bitcoin is the currency we need to save in. Bitcoin recovers after every crash and keeps going up in the long run. But our fiat currencies are continually losing value. Our fiat money is worth less and less every year. Why do traders and also investors try to realize their profits from Bitcoin trades in fiat money. We should keep our balance in Bitcoin and not in any fiat money. As fiat money is constantly devalued, it makes perfect sense to borrow in fiat and buy Bitcoins from it. The debt gets smaller and smaller as the money is worth nothing, but the Bitcoins go up.
For those who did not understand: Have fun staying poor !!!