22 Dec You know how rich people buy up property and let it sit vacant? Bitcoin fixes that.
Cash is trash.
Everyone is struggling to find places to store and diversify their wealth.
Extremely rich people understand this better than anyone. That’s part of why they’re rich. But they’re struggling like everyone else is to find where to put the money to keep it out of cash. Beyond owning things like stocks and bonds, which carry risk, they also put money in other things like property, rare art, gold, etc, which inflate their valuation beyond anything reasonable. It doesn’t even necessarily have to beat inflation, just dull it down.
This is part of why we see lots of real estate getting bought up above asking price with cash and sitting vacant or lightly used. Earning income as a rental or serving as a residence isn’t the point. Storing and diversifying wealth is.
Bitcoin fixes this because it’s the only store of value that can absorb infinite amounts of excess value without being subject to debasement. Gold can’t do this. Land can’t do this. Rare art can’t do this.