Is Bitcoin Becoming More of “Store of Value” Than “Mode of Payment?? — LeoFinance
With the recent purchase of Bitcoin by Tesla worth $1.5B, do you think they bought it(bitcoin) to use as a mode of payment or as a store of value??
Yes, I read that Tesla will be soon accepting Bitcoin as a mode of payment meaning that the Bitcoin they bought can(or might) be used as change when other people purchase cars from Tesla.
Let us be realistic though, did Tesla and all the other wall street firms purchase BTC so that they can use it as a store of value or mode of payment?
In my opinion, those wall street folks bought BTC to increase their balance sheet because we all know that Bitcoin is digital gold.
We all know that the argument of Bitcoin as a store of value holds more truth because of its scarcity, Bitcoin is becoming scarcer a the years go by.
Remember there will only be 21M Bitcoins and we already have over 18.6M in circulation hence BTC is becoming scarce each passing minute of the day.
So we should also remember that Bitcoin’s true goal is to be a decentralized payment method or to put it as Satoshi said
a peer-to-peer electronic cash system
So do you think these wall street folks are really buying bitcoin to use it as a payment method? or store of value??
There is debate on which part should Bitcoin take ie store of value, payment method or both.
I am happy because many companies already are accepting Bitcoin as means of payment, Tesla is also rumored to be joining the list.
I guess Satoshi wherever he is/will be happy when he sees many people using Bitcoin as a payment method!!
He is rolling that side knowing that people can no longer use banks or central entities like Money gram or Western Union to make payments…
So which side of the debate are you on in regards to bitcoin use??
1. Store of value 2. Payment method 3. Both store of value and payment method.
I do not mind the side you choose, but I was just curious about what exactly Satoshi wanted Bitcoin used for!!!!!
So what is your say on this, is Bitcoin being more of a store of value than a payment method ??
Posted Using LeoFinance Beta
Originally published at https://leofinance.io on February 10, 2021.