BTC: speculation or a true alternative? | Personal opinion

Hello PussFi friends, I hope you're all doing well and having a great week. Like everything in life, anything will have multiple perspectives, and some will agree with something, some won't, and some simply won't care—that's a fact of life. The same is true with Bitcoin. It's a topic that stirs up passions, criticism, mockery, excessive enthusiasm, and also some pretty serious analysis. And amidst all of that, everyone develops their own opinion.

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Some claim that Bitcoin is useless, that it has no backing whatsoever, that there's no central bank supporting it, and that it's basically just a tool for speculation. On the other side are the maximalists, convinced that it will completely dethrone the traditional banking system, that it will eliminate banks, and that it will be the only valid form of money in the future. These are quite extreme positions, and while I don't entirely agree with them, I respect them. In the end, everyone analyzes things based on their own experience and worldview.

But beyond these extremes, there are things I consider important when analyzing Bitcoin, especially when comparing it to fiat currency, the currency we use daily. It's true that Bitcoin is used as a speculative asset, as happens in other markets. Take Forex, for example, where traders speculate on pairs like EUR/USD, trying to anticipate price movements. That exists, and nobody denies it. Speculation also occurs with stocks, commodities, and indices. It's not something exclusive to Bitcoin.

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The difference is that Bitcoin isn't just for speculation. It has gradually been used as a medium of exchange and a store of value. And this is where things get interesting. Because while many of the more than 200 national currencies formally exist, the reality is that not all of them are seen as stores of value. In fact, in many countries, people save in dollars and not in their local currency because they know that its purchasing power deteriorates over time.

In Colombia, for example, there have already been cases of property purchases using Bitcoin. Transactions are also made in dollars, and of course in Colombian pesos, which is the norm. But we're unlikely to see someone buying a house here using the Japanese yen or the Chinese yuan. Not because those currencies lack value in the world, but because their use as a medium of exchange outside their natural contexts is limited. In contrast, Bitcoin, which doesn't belong to any state, has managed to establish itself in various countries as a real alternative for certain transactions.

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Does that mean it will completely replace the traditional financial system? Not necessarily. But it's also undeniable that it has gained ground. More and more people understand it, study it, and use it, whether as an investment vehicle, a hedge against inflation, or a means of payment.

In the end, like almost everything in life, Bitcoin has nuances. It's not the public enemy some portray it to be, nor is it the magic solution to all the world's economic problems. It's a tool, with advantages and risks. And as such, it deserves to be analyzed with a cool head, without fanaticism. This is a personal opinion, and you may disagree with me, which is also valid. Goodbye, take care, and again, have a good week.