Bitcoin is like gold but without the flaws of gold. It is still more volatile than gold but that is to be expected
for a brand new asset class that is only 15 years old versus gold's 5,000 year history.
As bitcoin becomes more widely adopted and accepted over time the volatility will decrease.
But with bitcoin's greater volatility also comes a much greater potential upside than gold.
I believe it would be wise for people to have both bitcoin and gold as prominent holdings in their portfolio.
Not as a means of short-term speculation but as a long-term solution to help preserve and grow your wealth.
I don't know why some people think it is somehow "being greedy" to want to preserve your wealth and purchasing power
in the face of unprecedented economic turmoil, massive inflation and currency devaluation.
Like Larry Fink said, Bitcoin is a flight to quality. What he is really saying is, bitcoin is an escape valve from the corruption
of big government and big business. As a Nobel economist famously said over 40 years ago,
"I don't believe we shall ever have a good money again before we take the thing out of the hands of government.
Since we can't take it from them violently, all we can do is by some sly roundabout way introduce something they can't stop.
- F.A. Hayek 1984
It's pretty amazing how he predicted the rise of bitcoin long before it existed.