The rate of poverty across the globe is becoming worrisome. Many people are continually crossing below the poverty line to the state of depression. I was heartbroken seeing the number of people struggling to enter the US as
shared by Elon Musk in X. Weather we choose to believe it or not, there is an impending global problem that if concerted effort is not put at addressing, there will be chaos. Is there anyway Bitcoin can assist in addressing this?
I know many will think investment in Bitcoin is reserved exclusively for the rich or those who are comfortable; the lower class can actually buy as little as $10 per week. Majority of these immigrants are farmers that the quest for greener pastures pushed into these journeys. They can actually start small and build from there. Same goes for many people across the globe.
Bitcoin offers unique opportunities for people who want to make decent amount of money and I have the feeling that if these people start investing in Bitcoin, we will see a rapid decline in global poverty. What do you think?
I think it's not as simple as that. Buying bitcoin as an investment is a good thing but it shouldn't be the only investment in our portfolio.
Whether it be rich or poor, everyone should diversify their portfolio to balance the risks.
Bitcoin is a volatile asset and it can be one of the aggressive risk asset in our portfolio.
It can surely help us from preventing being poort but we should be aware of the risks.
I think for poor people, they do not need to diversify their investment portfolio but should only focus on bitcoin. If someone is poor but has enough money to invest and that is the amount of money they can lose, they should accept risks to be able to achieve greater success, creating a turning point in life. Instead of being careful little by little and making poverty last longer.
Rich people are also people who step out of their comfort zone to do things that others don't dare to do and achieve things that others don't have. Success requires trade-offs. And the bitcoin opportunity is a rare opportunity and not many such opportunities will come our way, if we don't take full advantage of that, it will be a bigger pity.
If a poor person has $5000 to invest, would you advice him to invest all of it in bitcoin ?
I would certainly not because tomorrow if the market crashses then his $5000 can become $2500.
The poor person would panic a lot and can take certain steps which he shouldn't.
I know the opposite can happen too but generally the amount of happiness is less when compared to panic and stress.
If he diversifies his investment in 2-3 assets then the risk would become balanced.
The profits might get decreased but steady growth should be the actual goal.