Bitcoin ? Luxury Product as Part of a Family?s Heirlooms"
As more investors clamour for Bitcoin and its price increases, can it form a part of a family's portfolio, passed down from generation to generation"
The post Bitcoin – Luxury Product as Part of a Family’s Heirlooms" appeared first on LUXUO.
Image Credit: Unsplash
As Bitcoin shot past US$61,000 this month, wealth managers who had for years dismissed the nascent asset class were having to field inquiries from their clients as to what the ?Bitcoin solution? was for their portfolios.
The only problem" Most of them didn?t have a plan.
Dismissed for years as being too speculative and too volatile to form a part of a complete and healthy asset portfolio, the dynamics have changed dramatically for Bitcoin.
From companies like Square, Tesla and MicroStrategy, all putting a portion of their treasure in Bitcoin, to billionaire hedge fund investors such as Stanley Druckenmiller and Paul Tudor Jones touting Bitcoin?s value as a hedge against inflation, many are wondering if their portfolios wouldn?t benefit with just a small dose of Bitcoin.Â
To that end, Bitcoin can be considered a type of Veblen good ? a luxury good for which the demand for it increases as the price increases and key to that quality in Bitcoin is programmatic scarcity.Â
How much Bitcoin do you own"Â
Image Credit: Unsplash
At its core, Bitcoin is limited by its software code to 21 million Bitcoins ? the maximum number of Bitcoin that will ever...
The post Bitcoin – Luxury Product as Part of a Family’s Heirlooms" appeared first on LUXUO.
Image Credit: Unsplash
As Bitcoin shot past US$61,000 this month, wealth managers who had for years dismissed the nascent asset class were having to field inquiries from their clients as to what the ?Bitcoin solution? was for their portfolios.
The only problem" Most of them didn?t have a plan.
Dismissed for years as being too speculative and too volatile to form a part of a complete and healthy asset portfolio, the dynamics have changed dramatically for Bitcoin.
From companies like Square, Tesla and MicroStrategy, all putting a portion of their treasure in Bitcoin, to billionaire hedge fund investors such as Stanley Druckenmiller and Paul Tudor Jones touting Bitcoin?s value as a hedge against inflation, many are wondering if their portfolios wouldn?t benefit with just a small dose of Bitcoin.Â
To that end, Bitcoin can be considered a type of Veblen good ? a luxury good for which the demand for it increases as the price increases and key to that quality in Bitcoin is programmatic scarcity.Â
How much Bitcoin do you own"Â
Image Credit: Unsplash
At its core, Bitcoin is limited by its software code to 21 million Bitcoins ? the maximum number of Bitcoin that will ever...
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