Money can’t buy happiness, but what if Bitcoin could …

In a recent interview, entrepreneur Bill Pulte discussed Bitcoin’s allocation and its price outlook with host Natalie Brunell. The millionaire explained that it is necessary for families to invest in Bitcoin because,

“Bitcoin buys happiness because it pulls people out of third world poverty… Happiness is economic freedom.”

Explaining further how much a family should allocate in their investment basket, he added,

“As much as they humanly can, within reason.”

He pointed out that people are worried about a “corrupt government devaluing its currency” by printing more money. Therefore, he believed that the allocation to Bitcoin would instead bring economic power to the people. Outside of a humanitarian perspective, Pulte believed the United States was battling a lingering inflation crisis.

He pointed out that the level of inflation reduces the value of a dollar and can be combated by Bitcoin, stating,

“I don’t understand why the federal government didn’t buy Bitcoin.”

Additionally, he said he was not buying the “fear porn” that the government would shut down Bitcoin. Instead, he maintained a bullish outlook on Bitcoin, predicting,

“I think we could see a million dollars a piece”

Against this background, he advised Bitcoin investors to hold onto the asset for the long term. He is not the only voice in the industry who believes that Bitcoin will be very valuable in the future. Michael Saylor of MicroStrategy previously pointed out that Bitcoin is the way to store value. He said,

“Bitcoin is like Manhattan, if you owned it in the 1800s, would you sell it or sell it short?… Owning BTC is a business strategy if you want to be rich, you have to own a high quality asset like BTC. “

In the context of family offices, a recent investigation by Goldman Sachs also found that about 15% of family offices around the world, including 25% in the Americas, had invested in cryptocurrencies. These families have devoted around 1 to 3% of their portfolio to digital investing.

Meanwhile, more than half of non-crypto investors could initiate exposure in the future, according to the report. According to one executive, the change was a result of the holdings being viewed as an inflation hedge or a store of value.

However, when allocating an asset class, the growing inequality of wealth cannot be ignored. According to analyst Lark Davis,

“If you can really afford to buy 1 Bitcoin today, congratulations. You are rich! Because 1 Bitcoin is worth more than the average annual income of the majority of the world’s citizens.

About Rodney Fletcher

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