Lately I have been thinking……..what do people nowadays consider bitcoin to be: as a digital asset for storing value and investment or as a currency which was the initial purpose of its creation.
I did a bit research and found out that the perception of bitcoin vary among different individuals.some consider bitcoin as an investment asset, other consider it as a currency and some people consider it as a revolutionary financial tool.
The majority of people consider bitcoin as an investment asset and they Hodl their coins for a long run. The other who consider it a currency keep it for their transactions and some business also accept Bitcoin as a means of payment.
Open thread: What is your type of perception about bitcoin; do you consider it as a currency or as an investment asset or both?
In my case I consider Bitcoin to be strictly a digital asset investment. I have elected to only invest in the future price of Bitcoin by owning shares of spot Bitcoin ETF (exchange traded-funds) that tracks the price of Bitcoin nicely. Buying x amount of spot Bitcoin RTF shares equals x amount of a whole BTC. With Fidelity's FBTC 1,140 Shares at $97.36/Share equals the 1
BTC at current price of $110,990. With Blackrock's IBIT 1,750 Shares at $63.42/Share equals 1
BTC.
This makes it easy for investors to benefit from Bitcoin's expected future price - and do it with a regular brokerage account - and have custody of the Bitcoins covering your shares protected and taken care by the multi-trillion dollar global financial firm with strict regulatory requirements. I do not want to deal with self-custody wallets, private keys, recovery seed phrase words or any of that mess.
I have no interest in ever owning and using Bitcoin as a currency, therefore I have no plan or desire to ever accumulate Bitcoin that requires self-custody.