I couldn’t have said this better myself.
So why did I buy bitcoin when I was 18, and why do I keep buying now at 21?
After I graduated from high school, I wasn’t a kid anymore, I was an adult. Being an adult is expensive. Ultimately, most adults want to buy a car, a house, finance their lifestyle, go on vacations, retire, etc. All of this is very expensive and can seem like an impossible task to bear considering the setbacks that come with our generation.
We have learned to save our fortune in US dollars, which are constantly being devalued due to the Federal Reserve printing more dollar bills, especially with the huge amount printed last year. As inflation creeps up, the prices of just about everything we want to afford (cars, homes, food, etc.) go up. We keep money depreciating while the price of things we want to have goes up. double record.
Since we get double credit, most assets are completely out of reach for the average person. This forces people to take on debt to buy what they need. It has been historically proven that incurring huge debts is disastrous for an individual’s financial life. It destroys you, and it can have unintended consequences in other areas of your personal life. For example, a a study It found that “couples with no assets at the start of the three-year period are 70 percent more likely to divorce by the end of that period than couples with $10,000 in assets.” Imagine losing your significant other due to the stress of money; These are life-changing consequences.
Buying bitcoin fixes this by acquiring a collection of up to 21 million coins that no central bank, government, company or individual can print more of. I can sleep peacefully at night knowing that no one is printing my life savings. Over time, I get more bitcoins, the price of BTC goes up, and everything around me becomes cheaper. Bitcoin price beats the cost of anything I want; So now I can afford the house, the car, the lifestyle, early retirement and still have the money left.
Here is the inflation on housing in Virginia my home across District. These numbers mean that if you save in US dollars and don’t get increases each year beyond these numbers, you will have no chance of owning a home. You need to invest your money in something above and beyond so that you can buy a home and still have some money left.
Do you want a car to travel with so you can make your life easier? Well-used cars have also become more expensive and out of reach in the past year:
The above reasons made me dive deeper into bitcoin, realizing how important it is to save my wealth in the best form of money. I wanted something that was evidence of hyperinflation. Bitcoin, the “main predator of money”, is the best store of value for me to secure my wealth safely, being able to buy everything I need without going into debt.
As Francis mentioned in a tweet at the top of this article, I also had no savings other than the $500 I got from working the previous summer. So I got a job and started working like a dog to earn US dollars to buy bitcoins. I didn’t stop nor plan on it. And in real time, my thesis above was executed perfectly. BTC builds up, the price goes up and beats the things I want to get, and now I have the funds to buy what I need with BTC left. No more stress, debt or uncertainty about my future. Now I have nothing holding me back, I can live my life to the fullest.
As Generation Z, Bitcoin has changed my life, and it can do wonders for my Generation Z brothers and sisters as well.