Someone said that Bitcoin is for the rich, but that's not completely true. It might feel like Bitcoin is for the rich due to the media focuses on celebrities and billionaires buying and benefiting from Bitcoin. This creates a perception that Bitcoin is a rich person's asset. Even during network congestion, fees can spike making small transactions very expensive. But let's not forget that Bitcoin is neutral, it can empower the rich or help lift the poor, it actually depends on how communities adopt it. So understand that Bitcoin is for everyone, you can buy tiny fractions, not until you afford a whole Bitcoin.
No, actually, Bitcoin is more needed by the poor than the rich. The rich already have other instruments to protect themselves from the fiat system and inflation. They can buy real estate in good locations, which almost always keeps up with inflation. A poor person doesn’t have millions of dollars to buy valuable propertysomeone in Africa or Asia working for $5 a day will NEVER be able to afford real estate. They can’t even save fiat money, because inflation destroys their savings.honestly, even rich people prefer Bitcoin these days. There’s no depreciation, no property tax, no maintenance costs like with real estate. You just put it in a cold wallet and you’re safe from fiat and inflation, simple as that.
A poor person also can’t just buy the S&P 500 this is only available to Americans and maybe some Europeans, but for most people in the world it’s not accessible. Gold is also hard to buy and even harder to store safely. For the poor, saving in fiat currencies is pointless because inflation constantly erodes their purchasing power and the value of whatever little they manage to save.
But if you’re poor, earning $5 or $10 a day (or any small amount), you can always set aside a few dollars and buy sats (satoshis). Today, for $1 you can get around 920 sats. Bitcoin gives poor people the ability to save and protect themselves from inflation. It’s actually more needed by the poor than the rich
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