I got into Bitcoin as a college student though I am not involved in earning yet but I have a lot of interest in Bitcoin and I am planning to hold Bitcoin. My father is a Malaysian expatriate. He receives a salary of $500 per month and sends $400 per month to support my family. I collect all the money from my father's salary and spend it for family support. Recently I have made a plan to invest a certain part of my father's salary remittance in Bitcoin but in this case I don't understand whether it should be invested in Bitcoin. I paid attention to invest in bitcoin seeing the popularity and future importance of bitcoin but my father and mother from my family have no knowledge of bitcoin so they keep persuading me to invest in bitcoin.
My parents thought that bitcoins that cannot be seen or touched cannot be an asset. They think that investing in physical assets such as gold, bank deposits, land etc. is more profitable than Bitcoin. But even after I convinced them, they are not ready to invest in Bitcoin. They don't want to believe in virtual currency.
Right now I want your important advice on how to convince them.
Choosing between Bitcoin, land, gold, or traditional money depends on one's investment goals and risk tolerance. Bitcoin, often dubbed "digital gold," appeals to those seeking a decentralized and finite asset with potential for long-term value appreciation. Land provides tangible assets and potential for development or agricultural income. Gold, a traditional store of value, is prized for stability. Traditional money offers liquidity and is widely accepted for transactions. Diversifying across these assets can balance risks. Bitcoin's volatility contrasts with the stability of land and gold, while traditional money maintains liquidity. Ultimately, the choice hinges on individual preferences, financial strategies, and the desired balance between digital, tangible, and traditional assets.
DYOR before investing for longterm, I used to think earlier for buying 1B shib but later on knowing lots on this forum I changed my mind now bought some little amount of btc and kept in core wallet for longterm. Let's see what's goes on !