What are your thoughts on Bitcoin?

What are your thoughts on Bitcoin?

I was watching somebody talk about Bitcoin on CNBC the other day. They said you should allocate 1% of your portfolio towards it. What are your thoughts on this? Do you have any exposure?

If it counts: I don’t trade. I just like to invest in quality assets and watch my money grow.

View on r/IndianStreetBets by Adorable_Candle1409

  1. depends, How do you see it. If you are looking at it from making quick money perspective..Ignore.

    If you are looking at it from safeguarding your wealth from gov control or black swan event thn you should be accumulating it.

    I will give you a few real life examples….when the russia-ukrain war broke out,I know few people who had certain % of their net worth in #bitcoin. Those people were only able to save that much money and moved to poland with the help of redcross while whatever they had back home in local currency/real estate got destroyed in a day.

    Another use case is ,remember Sri-Lanka,one fine morning their government defaulted…Imagine what happened to the wealth of local people,it’s gone overnight.

    Read about countries where Inflation is extremely high, you will realize how important having bitcoin is, But What I know..I am just a random person over the Internet . The Indian Government says Bitcoin is bad so it must be.

    Note* Indian Government said the Internet was bad in the 90ties look how it turned out.

    As we are begging Web2 companies to set up shops after 2 decades, same thing will happen in crypto space. We will again beg Web3 companies to set up shop in India and none of them would be Indian.

  2. with etf coming is good time to go in by sip on weekly basis .. its volatile, I have huge amount in it and votaliity kills me ,sometimes I feel like what kind of joke is this , some times I am so overwhelmed with gains

  3. >I just like to invest in quality assets

    Lol, bitcoin is not even an asset, let alone a “quality asset”. According to google an asset is ” a useful or valuable thing or person.”. Bitcoin is neither useful nor valuable intrinsically. There are better digital currencies which do not fluctuate 20~30% randomly. The net benefit that bitcoin has delivered to the world in the last 10 years is likely negative. It has been useful in some fringe cases, but that is easily offset by the massive carbon emissions, huge volatility and outright frauds by various exchanges which resulted in bitcoin speculators losing millions.

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  5. Can invest periodically with small sips. It’s definitely worth it. The “it’s useless” crowd ignore that the rupee is a shitcoin of national currencies, it helps to diversify a little bit. If the majority of your investments are in USD then it might not be useful but it doesn’t hurt if it’s in INR.

  6. You can invest 1-5 percent of your investment portfolio to crypto like fundamentally strong coins like btc,eth,xrp,solana,polygon.
    Apparently rbi hates crypto but if you want a diversified portfolio you can invest in crypto its a good option but please learn about crypto coins first before pouring your money and also don’t buy a high prices wait for dip

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