PLO NW MN - 11/18/2024 22:58
Can bitcoin be a currency if everyone is buying as an investment or a hedge against inflation? If it’s not actually traded for goods or services but just held and possibly loan against?
In my view it doesn't need to be used as a currency or for daily transactions for Bitcoin to continue to be adopted. Even though it is legal tender in a few smaller countries I am really not holding my breath for Bitcoin to be accepted at Walmart.
People do exchange it for goods though you are right it is mainly held as a investment or inflation hedge. The next use case is likely for international trade. Many governments are adopting it. We are currently seeing a time of distrust and war. No one wants to accept foreign currency in trade that will be devalued in the future or even worse risk the issuing country lose a war. Some countries are currently being reduced to barter at times during cross border trade. Then there is the whole issue with Brics countries not likely the dollar hegemony but also don't trust each other. Not to mention countries needing to trade in something else that are being kicked out of the SWIFT banking system.
If I was selling goods on the international market I would not want the Ruble or Yen... | 
MicroStrategy chairman at Cantor Fitzgerald
