This morning, I was surprised to wake up and see that Bitcoin was over $54,000 a coin. Back when it was $80, I never thought that I’d ever see the day. It has come a long way from the days where you had to wire someone money via Western Union to buy it.

Bitcoin hit an even more important milestone today. The market cap for BTC has reached 1 TRILLION dollars. I’m still amazed that there are coins that have a market cap of a billion dollars.

I have to wonder though: is the fact that Bitcoin has a trillion dollar market cap a reflection of its worth, or a reflection of the massive money printing that’s going on around the world? I suspect it’s a little of both.

Cryptocurrency is an amazing technology, and it continues to improve. It definitely deserves investment. But I don’t think that’s the only reason it’s a great place to put your money these days.

One of the reasons I got into cryptocurrency in the first place was because I don’t trust the long-term stability of fiat. I’ve read books like When Money Dies, which is about hyperinflation during the Weimar Republic. I see news articles about another round of stimulus in the United States, or how there is a movement to cancel student debt, and wonder where all this money is coming from. And the US is not the only country providing “free” money to its citizens during the pandemic. This isn’t sustainable.

Yes, times are difficult. They’ve been difficult for years. Millennials have had a difficult time buying homes or even affording children. Even if they have advanced degrees. Gone are the days when most people can afford to have one person working in the family and live a comfortable life.

I don’t know the answer to fixing this problem, but I know that in the meantime, the best place for my money is in an asset they can’t make an infinite amount of. Which is why I keep most of what little savings I have in cryptocurrency. And perhaps it’s one of the reasons why Bitcoin hit a market cap of a trillion dollars today.