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.
What does cash being trash has to do with stocks being bullish and price of gold going high? People are now buying stocks and gold with cash, so how is he "damn right"?
I bet you are still using cash despite calling it a trash and supporting his statement. So you are just being a little hypocrite over here.
Stop calling it a trash. We still need fiat/cash money to survive!
Cash usage all around the globe haven't got decreased out of the existence of cryptocurrencies. People have begun to use cryptocurrencies, but haven't completely moved to it. When such a scenario happens we can state cash is trash, until then everywhere cash have its value and usage.
Just because one has invested his cash on stocks or something else and ended with loss, he can't state it as trash. This is unfair, because with the same cash there are people who keep making money and doesn't have any idea about bitcoin or other cryptocurrencies.