Rich is a subjective term, but it is evident that those without Bitcoin are unwittingly lacking the freedom necessary for true wealth.
No doubt Fiat millionaires will read the title of this article and laugh. Deceiving in mansions with debt bases, materialism, and the physical world of the fiat rich is deceptively luxurious. Certainly the great empires of Rome, Venice, and Constantinople also had many rich people who enjoyed the various splendor of wealth.
Indeed, turkeys live happy lives – until Thanksgiving.
If we can consider melting the Fiat ice cube, it would be wise to imagine the water feeling cold to the touch until the ice is completely melted. Only when this ice has melted does the water left behind heat up quickly in relation to the temperature of the room in which the water is located.
This describes the stuffed bank accounts of wealthy Americans across the country. Many believe that they are protecting themselves by investing their money in various assets such as stocks and real estate. The problem with these markets is that they basically rely on the monetary system that Bitcoin fixes.
The stock market continues to hit all-time highs as the Federal Reserve keeps interest rates low enough and the credit market liquid enough to stay afloat. Without this third party injection, current market conditions would quickly deteriorate.
A stock market crash would erase much of the wealth of upper-class Americans. The difference between poverty and opulence, for many, is FAANG stocks, which are responsible for keeping America “rich”.
If you don’t buy bitcoin, you can’t be rich
Rich, as I will define it, is the freedom and ability that one’s wealth enables one to do what one wants. Perhaps there are people who feel they have enough fiat currency stored to fit that definition. I bet if you just witnessed the moving sand beneath your castle you would instantly withdraw your sense of freedom and skill.
How can you have freedom when an impending stock market cycle is permanently looming on the horizon? The credit cycles have forced Americans to agree to programmatic recessions in the economy, despite the drastic effects of these busts and booms. How is it that, despite the previous market crash of 2008, people continuously pursue real estate as a store of value?
Buying real estate as a store of value is like jumping at the end of an elevator that falls down a shaft.
You’ll still face the same crash and burn all Fiat’s will experience, albeit with the added padding of your 12-inch verticals.
The only way to be safely rich, to have the freedom and ability to do what you want, is to have an immutable, uncontrolled computer program as a basis for your money. Only through the decentralized nature of the Bitcoin network can one feel secure in maintaining one’s assets. It must be rich to entrust all of your wealth to the only financial settlement system that is incapable of injecting liquidity.
Inflationary monetary policy makes the rich happy, but only in the sense that alcohol makes a college student happy with a newspaper due that evening. Bitcoin’s deflationary monetary policy is the choice to stay and study – the safest choice, the safe choice, and the smart choice.
With hangover regret, wealthy Americans will realize their mistakes if they ignore this avenue of stability.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.