Read now to learn how saving in Bitcoin is its most important use case
In today’s world there seems to be quite a bit of confusion around Bitcoin’s true use case. Some people see it as a speculative investment. Others focus only on the amount of energy used by the Bitcoin network. And there are even people who think Bitcoin has no use case at all. They’re all wrong.
Bitcoin is money. Just like the fiat sitting in your pocket, but more secure. Just like the gold waiting to be pulled from the ground, but more portable. Just like the credit sitting with your card issuer, but decentralized. Without a doubt, Bitcoin is the best iteration of money humanity has ever seen.
We probably all agree that money has a number of uses. For that very reason, it’s extremely surprising to see how many people try to argue that hodling Bitcoin somehow means you aren’t using Bitcoin. As if money is only useful during the brief moment that it’s used to buy something…
Hodling Is Bitcoin’s #1 Use Case
Think I’m wrong? Think about how often you’re actually using your money for transactions, or in other words, as a medium of exchange. You might spend all day walking around a store or browsing on your favorite shopping app, but you’re still only actually using your money as a medium of exchange for the brief period of time you spend checking out. The rest of the time, your money is just sitting “unused” in your wallet, with your bank, or on the Bitcoin blockchain.
But to think of your money as “unused” just because you’re not actively buying something with it is silly. After all, when not being used in transactions, money is serving its primary purpose of storing value across time and space. Why is storing value money’s primary purpose? Because if you can’t trust that it will have value to you and others in both the present and the future, then you’ll never be able to buy anything with it.
Bitcoin users to a large extent trust Bitcoin to retain its value, especially over long time frames. In fact, the vast majority of Bitcoin on the network is currently being used for saving wealth through hodling rather than spending wealth. Naysayers who try to convince you that hodling Bitcoin isn’t using Bitcoin simply want to scare you into misunderstanding the holistic value proposition offered by Bitcoin. Don’t let them succeed.
Bitcoin Is Better Than Its Peers...
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This is not financial advice. This newsletter and related content are for informational purposes only. Cryptocurrencies and digital assets can be risky. Always do your own research before making any sort of investment.
