I believe that it’s best to look at Bitcoin as a store of value. It’s not a good currency for reasons you state: its volatile price nature, it is slow and expensive for transactions, and technologically it’s not there yet.

As technology improves, I believe that technology will make Bitcoin more usable for commerce. I see this as an enhancement to its primary utility: being a store of value.

As long as people see value in Bitcoin, it will have value. It also has the additional benefit of earning a yield (by lending or DeFi) easier than other asset classes.

I believe it’s best to have a diversified portfolio. Crypto adds huge upside potential and you can gauge your risk based upon how much you invest.

However, to completely ignore the opportunity may be more costly than partially embracing it. Like you, I can’t see the future. But when you consider it’s the best performing asset class of all time, to me it makes sense to hop on the technology train!

Thank you for providing your concerns as it helps me in challenging my beliefs. I agree that it doesn’t make sense to have people spend their Bitcoin in today’s environment. Rich or poor, it can provide a portfolio with diversification, alpha, and income.