Thursday, March 28, 2024

Bitcoin and other Digital Currency

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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