Choosing the Better Financial Asset is a Logical Move in Society




It's no secret that Bitcoin is getting more popular by the day, and with it all other cryptocurrency. And fiat or the "normal" way of conducting financial traffic is becoming less wanted in the process. This is a common occurrence with societies. Any form of payment or currency is only as strong as the belief in it. In most cases fiat is theoretically supposed to be backed by some kind of precious asset, gold for example. Not that it holds true in practice. And usually this backup asset has some value to a society, which is decided based on whatever value the society deems it to be. If nobody found gold should be worth what it is, it wouldn't. Therefore value of means of payment is all relative.

Once this belief in value of something dwindles, we are bound to shift our interest to whatever is of more value or will be valuable in the near future. This is exactly what's happening to crypto at this point in time. As people start to lose faith in fiat, or rather the entities governing it, they are seeking out alternatives, bitcoin being among them. Even in Suriname, I've seen this concept hold true. As inflation progressed, more people flocked towards the US dollar instead of our less stable local currency SRD.

Knowing this, it's always wise to follow the market, whether it be through news, blogs here on Hive or the grapevine. Make financially sound decisions by moving around percentages of your assets to wherever you think the tide will turn.


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