Do you still think Bitcoin is still a store of value?

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Do you still think Bitcoin is still a store of value?

Do you still think Bitcoin is still a store of value?

After 50% last week and every market falling apart. Do you really believe Bitcoin will be a new asset to protect people?

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Yes, bitcoin is still a store of value. The Supply and Demand principles still apply. While all markets took a big hit this last week, we still know how many exactly bitcoin are in the market today (just over 18 million), how many new bitcoin are mined each day (1,800 – soon to be 900), and that there is a finite supply (21 million ever).

You can’t get exact numbers like this for a national currency. Many central banks will simply create money out of thin air to manipulate the market. This practice eventually can lead to a devaluing of currency over time.

Due to this, I believe that bitcoin’s future is bright as a store of value.. It may not be a great currency to buy a cup of coffee currently, but that could change. As a store of value, while volatile, bitcoin can hold up over time just as Gold has done for years and years.

How has Gold remained such a good store of value? Well, let’s compare it to bitcoin:

• Its is rare and takes quite a bit of effort to produce more
➼ Same with bitcoin. We know exactly how rare and POW certainly takes effort
• It is not suitable for day to day transactions
➼ This is debatable for bitcoin, but we are discussing store of value here
• Moving large amounts of Gold (especially across borders) takes quite a bit of effort
➼ Take a look at the show “Dirty Money” on Netflix that discusses Gold to get a good idea about this. Bitcoin solves this. Bitcoin is borderless and can be sent around the world with nothing but a computer and an internet connection

I expect this debate will go on until the bitcoin price heads up past 20K and stays there. Volatility scare people. Gold isn’t exactly without volatility either.

Yes it is still a store of value, as long as the fundamentals of bitcoin and its blockchain apply it will be a store of value. Some people say that it is highly correlated to stocks or gold, but in time of a black swan event like the coronavirus global spread, everyone wants to liquidate assets in order to have cash money for emergency needs like fuel, food etc. Central banks have already announced the largest printing of fiat money in recent history, which means that fiat money will loose its value due to inflation.
On the other hand bitcoin still is deflationary and we are 55 days away from halving.
The almost 50% drop in its price was because of the panic that corona virus spread. I believe it will back where it should be on time.

I started to save in BTC in 2016. Small amounts, often. I hold at +$20K and down to $3,5K. The blockchain worked well all the time, miners come and goes. I see this as an uniq opportunity. Govs spend a lot of money, and print even more. Inflation will increase over time, but BTC produce (mine)3600 blocs pr. day. In may it decrease to 1800. It can never be more than 21 mill BTC. I compare it with gold, when BTC reach its full potential, and ppl understand it. Gold marked lost more money (actual money, not percent) than BTC (4%) silver was down 30%. Norwegian krone, which use to be a stable currency is down 20%. Ppl are panicking, but no other items has an easier way up. Just wait until ppl see it didn`t crash. During the riots in Iran 1 BTC costed $+20k on local BTC. My guess is that this time we will se institutional investors,who makes the price explode over a couple of years. But, dont believe it goes straight up. But, you need to understand the technical side, and the history for being a strong believer.

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