Financial freedom through bitcoin: A reality or a dream?
) for many reasons— from fixing a flawed fiat economy and reaching the unbanked to diversifying portfolios. However, a large portion of the general public sees Bitcoin as a gateway to financial freedom amid growing fiat inflation and geopolitical uncertainties.
Traditional banking systems have, time and again, served as a tool for centralized governments to dictate financial access, especially during dire situations. Most recently, the Ukraine-Russian war served as a case study for, Bitcoin aims to bring power back to the people. This means that no amount of regulations, sanctions or bans can stop one from using Bitcoin as money.
Setting aside a few off years, Bitcoin holders witnessed a mean annual return of 93.8%, which at its best-performing year, spiked to 302.8%, revealsAs simple as it sounds, hodling has proved to be a difficult feat for investors. Some of the factors that trigger abrupt Bitcoin selling include an ongoing FUD and price movements.
While it makes sense in the short-term to earn profits off Bitcoin’s volatility, zooming out the price chart reveals there’s a long-term greater incentive in holding. Moreover, investors owning Bitcoin will always have the option to utilize this spending across geographical boundaries without losing value.Considering Bitcoin as a viable long-term investment option, many investors tend to implement the dollar-cost averaging strategy.
While El Salvador was initially criticized for adopting Bitcoin as a legal tender amid crippling inflation, the country could repurpose the resultant unrealized gains to fund social projects such as
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