Let me give you my take on Digital currencies like Bitcoin. Like all currencies, it only has value if people believe it has value. If people no longer believe a currency has value, it has no value. It is really as simply as that. There seems to be a lot of people who think that currently, having a non-governmental currency is a good idea. This is why Bitcoin and other Digital currencies have value.
This is not the first time we have non-governmental currencies in history. In fact, anything people are willing to accept as money, is money.
When people lose faith in a currency, it can lose value very quickly. Look at what happened to the Zimbabwean currency or the Venezuelan currency when people lost faith in them, they quickly lost value. As I have said above currency have value is people believe in it and has not value if people believe it has not value.
On my other blog I wrote yesterday about AltaGas Ltd (TSX-ALA, OTC-ATGFF) ... learn more. Next, I will write about Hydro One Ltd (TSX-H, OTC-HRNNF) ... learn more on Friday, March 29, 2024 around 5 pm.
This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.
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