Jul 183 min read

Why You Should Own Bitcoin

If you have been keeping up with the news lately, you probably know that the government is on the brink of defaulting on our debt. As it stands now, the debt is $29 trillion and counting. We all know that this number is never going down ever again. Being the world's reserve currency, we are trapped in this debt cycle until this thing crashes and burns to ash. Is there no other way around this problem, or is there?

Why should we continue to desire dollars if we know that the debt will keep growing yearly until disaster strikes? This unmitigated spending has to be borrowed from the Federal Reserve and pushes more dollars into the economy.

On the face of it, this sounds like a great idea. The widespread economic theory right now is to get money into people's hands and let them spend it in the economy, money printing and debts be damned. This is called Modern Monetary Theory (MMT), and it's detrimental to the economy as a whole.

Inflation is eating away at the purchasing power of your hard-earned money. Inflation is running above 6 percent consistently. This means that your labor is worth 6 percent less, your savings are losing 6 percent every month, and your investments have to beat 6 percent to stay even! How can anyone keep up when inflation is secretly stripping you of your wealth and time.

Suppose you want to fight back against inflation and preserve your wealth, labor, and time; you must start thinking differently. Investing in gold and silver won't provide you with the means to grapple with the rising tide of inflation as they are not ideal stores of value in the 21st-century economy. Gold and silver prices can be manipulated, and supplies can be restricted on a whim by the government or even a private entity. This is not an ideal situation.

On the other hand, Bitcoin can not be confiscated, is scarce, and can be transmitted anywhere in the world in a blink of an eye. Gold and silver can't do that. Try moving a bunch of gold bullion from place to place. The government will target you, or thieves will prey upon you. If you have your wealth in Bitcoin, your Bitcoin is safe as long as you have your seed phrase.

Bitcoin is growing 100 percent annually and shows no sign that this won't continue for the foreseeable future. What currency would you instead save your time and energy in? Money depreciates by 6 percent every month, which compounds by the way or save in a currency that will preserve your wealth, labor, and, more importantly, time. It seems like a simple choice, right?

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