Post
Topic
Board Bitcoin Discussion
Re: Why hoard Bitcoin?
by
DoublerHunter
on 14/08/2021, 20:56:22 UTC
Because of the value of Bitcoin, people will hoard it,
Take me as an example. I will invest 20% of my salary in Bitcoin because I think Bitcoin is very valuable and I believe in Bitcoin, so I think Bitcoin is worth investing in.

~snip~

In my opinion, Bitcoin is a store of value, not a currency. There may be cryptocurrencies becoming legal tender, but not now, volatility and supply and demand need to be considered.
^ You have already answered your question, you invested in BTC because you believed in it and your purpose is to hoard because you know that the value of BTC will always fluctuate that you can make money while hoarding and you are right. People have different choices in the first place, you can hoard and store value and you can purchase products from online merchants using BTC. But most people believe that hoarding is the best option to gain profit, it is very easy to gain profit in that way because they saw that the demand and supply really work in BTC and time will come when everybody is hoarding, BTC will become more expensive and that become a more valuable asset.