Recently I noticed some huge interests in Kuwait regarding Cryptocurrencies. People are buying Bit/Alt coins as a store of value and for profits (as opposed to its original purpose, serving it as a currency.)
Now there are few things that I can't comprehend. The Kuwaiti Dinar is the top currency in the world, and bitcoin was created to replace fiat. My question is: How will BTC price increase in value if people are buying it as a store of value (as opposed to using it on regular transactions?) And why are Kuwaiti's buying BTC when our currency is the top in the world? It just makes no sense to me
That your country's currency has more value than every other currency in the world doesn't mean your countrymen shouldn't invest money in assets or stocks. Investment is a normal thing that you should be doing if you want to increase your wealth. When they invest their money in Bitcoin the price goes up and by the time they will be withdrawing it they will have more than what they have invested.Now there are few things that I can't comprehend. The Kuwaiti Dinar is the top currency in the world, and bitcoin was created to replace fiat. My question is: How will BTC price increase in value if people are buying it as a store of value (as opposed to using it on regular transactions?) And why are Kuwaiti's buying BTC when our currency is the top in the world? It just makes no sense to me
Bitcoin is a huge investment at this time and I don't think this is an investment that anyone would like to miss, especially now that the whole market has been bullish. And just look at all these coins that have been bullish as of lately and they don't seem to be slowing down anytime soon, so it's best to go for it now and not miss out.