> As the parent poster mentioned, the US’ monetary policy is awful and many believe is on the brink of major problems.
Ah yes, "the brink of major problems". That's the undying adage of USSR and later Russian news programs. "Dollar is on the brink of collapse".
> So, yeah, some new alternative financial instrument seems attractive to me.
How can one forget, that these crises are unique, are happening for the first time ever, d no one in the history in the world ever had 10 million dollars before, so they have no idea what to do with this money.
I don’t think the USSR existed during a global pandemic. In fact, I would posit that the globalized nature of our economy adds a new twist to any pandemic that has come before. I don’t think the absoluteness of your position is warranted.
As you mentioned in another reply- diversification of ones’ portfolio is important. I, and most people, would never put all their money into BTC or crypto in general. That would clearly be a bad decision. But, why _shouldn’t_ I put <10% of my portfolio in a new asset class that has growth potential? Many people put 10% of their portfolio into all kinds of crazy things.
> I don’t think the USSR existed during a global pandemic.
The USSR existed during multiple global conflicts. The USSR existed during the oil crisis in the 70s. Russia existed during multiple global conflicts. Russia existed through multiple global economic crises including the one in 2008.
And through it all the fall f the US dollar was just around the corner. Within weeks. Well, months at most.
In 1998 I was an exchange student in the US. I read an editorial in some newspaper like The NY Timesthat argued that financial crisis that would kill the dollar was inevitable within at most two-three years. And yet, here we are.
So no, I don't buy "you sould put money in bitcoin because of course USD is going to deflate and is on the brink of major problems." as an argument for storing 10 million dollars in Bitcoin.
On top of that this entire argument ignores the actual reality of how people protected their assets before Bitcoin. Let me show you how: https://dataroma.com/m/holdings.php?m=BRK
Genuinely not my intent. This topic is bound to be controversial, but it also seems to be worth discussing for the people who are willing to take a little heat for their opinions.
Ok, but intent isn't enough. You need to post in a way that isn't likely to lead to flamewars, and that responsibility grows as the topic gets more controversial.
It's not a dilemma. At all. If you have 10 million dollars just lying around, chances are, uo already know what to do with your money.
So your entire premise is based on a combination of assumptions that make it entirely laughable:
- that if you have 10 million dollars, you have a problem with storing them
- that in order to defend bitcoin you have to come up with an example involving no less than 10 million dollars
> Do you buy gold? Gold is useless. Buy stocks? How do you pick them? Of course USD is going to deflate.
Ah, I feel so sad for people who have 10 million dollars which they have to just "park". How did they ever manage to do that in the past?
Oh, right. Stocks, property, securities, bonds, investments, diversified portfolios.