Post
Topic
Board Economics
Re: Use your money wisely. Invest or Deposit ?
by
MiF
on 16/02/2023, 05:07:45 UTC
Now you have $100,000 in your account, pure savings, and you don't need this amount of money to cover your daily expenses. Obviously it's good/free money to use at will. Let's say if you deposit the money into a bank and the annual interst rate is 3%, you will get a steady interest income year by year. If you use this money to buy Bitcoin, let's say the BTC drops to $17,000, you'll buy less than 6 Bitcoins. In the long run, what would you do with this money ? And why ?
I think investing into bitcoin is the best option, because that was a free money and we all know that if we can hold bitcoin for a long term we can really earn big amount of profit. Bank interest is not big it will also take a very long term to make a profit while in bitcoin if we are lucky and it will become bullish after a year then we can get big profit on short term hold. There is a very big difference within the bitcoin and the bank bank is a good option but i am sure that bitcoin will be more profitable if we can hold with patience.