Everyone was laughing on Ray Diallo when he said his famous phrase "cash is trash" on 2019 and they even laughed more when his hedge fund tanked 30% under water on early 2020. guess what, US stock markets are bullish again and on a stunning V-shaped recovery and Gold recently hit all time high and bitcoin of course in its way to break new price record. So, who's laughing now!. he was damn right.
I just don’t understand some people lol, you say Cash is trash but you’re still making use of it. When you invest your money in an asset, at last the profit you make will still go back to cash. We should understand that cash is meant to be different, it’s like the price for everything and everything is calculated in real currencies. Cash is not trash, it has its own ways of being useful.
When the market is crashing you will have to withdraw to cash to save your ass, and at that point in time cash becomes very important. You can then buy back when things starts getting better.
Well there is no other way but to use cash. If there is away to avoid it then many would have trash cash already because it can have covid virus that can infect anyone who holds it. Other countries like Korea and China that already adopted cashless transactions even to their malls and super markets, cash is not accepted. All the vendors do is provide QR code for all products.