Post #351 by tecmo on the Macroeconomic Trends and Risks board

Personal Finance Topics / Macroeconomic Trends and Risks ❤

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I guess I’d stick with the latter. Bitcoin, after touching 20,000 for the first time, fell in half. In 2022, after long run up, it fell by 2/3rds. Most unstable currencies don’t fluctuate that badly, although admittedly when they do they rarely come back as Bitcoin has. But then that’s not assured at all. There are now a thousand other Bitcoins by other names; maybe one day one of those takes off and Bitcoin is last year’s news?

Yup, lots of volatility, I will point out that many of the best equity investments of the past 30+ years have also had large sell offs - seems to be part of the trade-off. Bitcoin has been around for 10 years now, so hard to really call it a "fad" now. Its still not mainstream, but in the crypto world its the "gold standard" for sure. I would expect that other crypto coins that are better suited to transactions will get developed/released and adopted but in terms of a value store Bitcoin is probably here to stay. I would certainly put it ahead of many of the more marginal currencies in the world.

tecmo
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