Two years ago, I bought some unknown crypto which have lost value since. My opinion was Bitcoin will fail due to the speed of the transaction and high commission. I missed that it could be a replacement for Gold. Two years later, I see a lot of potential in Bitcoin and ETH, but few for other crypto.
Do you think ETH and Bitcoin will continue to be the major crypto in the future (currently around 70% of the market cap. A lot of Crypto has been launched but haven’t able to challenge these two)? Do you think it will replace gold? Any idea of the long term price/market cap?
Well, nobody knows. I am still unsure if we are not missing something huge here. What will happen to our little ETF friends VT, VWRL and so on when USD further weakens (crashes?) and everybody turns to bitcoin for protection?
So you want to protect against society collapsing (and somehow bitcoin not going down with it)?
Note that VT and friends are not tied to USD, but indeed a collapse of the US financial system would likely impact most economies. Just USD weakening shouldn’t matter (as long as it’s not a collapse, with hyperinflation, etc.), USD has weakened all the time compared to CHF without causing any issues.
Just to add on top of what @nabalzbhf says, if USD weakens the price in USD of your shares mechanically increase. It should not matter. You are not holding USDs you are holding parts of companies that have an intrinsic value.
And for reference, USDCHF was at 4.3 (1 USD = 4.3 CHF) in 1971 (vs. 0.9 now). If anything the past decades have been very stable compared to the historical norms.
Some companies like Microstrategy convert most of their cash into Bitcoin. Their is some rumors that other companies will do the same. For sure, now it’s easier than ever to holding Bitcoin for companies through ETFs or fund. Maybe Bitcoin is really Gold 2.0.
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