Bitcoin is Democratization of Savings, Says Hedge Fund Exec
Misir Mahmudov, a hedge fund executive working at Adaptive Capital, believes Bitcoin is a way forward for the true democratization of savings. He gave these views during a recent post on the microblogging platform Twitter. He is the brother of prominent Bitcoin promoter Murad Mahmudov and has praised the cryptocurrency before for its value to the masses.
Mahmudov, an author and operations associate in big hedge funds, believes Bitcoin bypasses numerous challenges posed to savers around the world who want to start investing in conventional savings options like stocks and real estate. He said:
“TODAY, YOU CAN STACK SATS & STORE YOUR WEALTH IN THE SCARCEST ASSET. THE ABILITY TO SAVE WEALTH IN BITCOIN WILL BRING MILLIONS OF PEOPLE OUT OF DEBT.”
Debt is a serious issue around the world as governments, as well as the public, are massively in debt. The total debt owed by the US government is around USD 21 trillion and is even increasing due to continuous borrowing and raising of the debt ceiling. Average Americans and other people all around the world are thousands of dollars in debt per capita on when global debt is averaged. The money people save has less value with time and that is why the need to invest in the right asset has become more and more important.
Since the US Federal Reserve was established back in 1913, the dollar has plummetted more than 96% while Bitcoin has gained over 20,000,000% on its peak value and around 70,000,000% right now.