There are bad debts and there are good debts. Bad debts- loaning money to buy a car that won't be used for business ( Uber, Bolt). Loaning money to buy a pair of shoes, clothes, a piece of furniture etc.
Good debts - loaning money to purchase something that would appreciate in value over time. Real estate, precious metals, commodities etc.
They say poor people have bad debts and rich people have good debts.
One of the popular pieces of advice you'd hear in the Bitcoin space is to never borrow to invest in it.
Despite the volatility, our hope is that Bitcoin will appreciate in value.
Would you classify borrowing money to invest in Bitcoin as good debt or bad debt?
Whether it's good debt or a bad debt, we should always be conscious when we are borrowing money from people. There are some funds we might borrow and we may not be able to pay back because of the addictive spirit that is behind the love for borrow. It is always important for us to try our possible best to invest for the broken time. Those who always invest will never lack so we need to try our possible best when we have surplus so we can utilize it in different investments that will give us a returns. The poor that do have sense or know how to go about there ways would never borrow money to spend on liability.