It seems that during these times of turmoil, Bitcoin's prices are increasing at a slow and steady rate. Since the mainstream economy has been on a downfall, people have been resorting to Bitcoin as a store of value. This gives Bitcoin "hodlers" greater spending power than before in terms of Fiat. You can now buy more things with Bitcoin than you did before COVID-19.
What would be the right thing to do during COVID-19? Should I spend Bitcoin or should I just "HODL" it? The more Bitcoin's prices increase on the market, the more tempting it is to spend one's Bitcoin holdings. But at the same time, you want to "HODL" your Bitcoin for the next ATH in price. What would you do?
Any advice, recommendations, or suggestions will be greatly appreciated. Thanks in advance.
What would be the right thing to do during COVID-19? Should I spend Bitcoin or should I just "HODL" it? The more Bitcoin's prices increase on the market, the more tempting it is to spend one's Bitcoin holdings. But at the same time, you want to "HODL" your Bitcoin for the next ATH in price. What would you do?
Any advice, recommendations, or suggestions will be greatly appreciated. Thanks in advance.
If you have fiat cash flow I would not advise you to spend bitcoins.
The global financial system is undergoing a transformation. All countries are busy developing central bank currencies (CBDCs).
For example, the Central Bank of Russia recently announced the creation of a digital ruble. In Russia, three types of fiat money will be used simultaneously - cash, non-cash money and the digital ruble.
I think that in such a situation, rich people will start converting their capital into gold, stocks and bitcoins.