Bitcoin: Let's Put The Utility Argument To Bed

Aug. 15, 2022 3:29 PM ETBitcoin USD (BTC-USD) CryptoBTC-USD55 Comments
James Foord
Investing Group Leader

Summary

  • Bitcoin is already a currency, with adoption increasing every day.
  • The question is: Can BTC become more than a currency?
  • The expansion of Bitcoin's ecosystem will lead to a new economic paradigm.
  • Bitcoin won't only appreciate in value, it will also give those who hold it access to a growing ecosystem.
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Thesis Summary

Bitcoin (BTC-USD) is described by many as a speculative asset with no practical use. However, there is plenty of evidence to the contrary. Bitcoin is already a currency, and it has the right ingredients to be a store of

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This article was written by

James Foord
24.17K Followers

James Foord is an economist by trade and has been analyzing global markets for the past decade. He leads the investing group The Pragmatic Investor where the focus is on building robust and truly diversified portfolios that will continually preserve and increase wealth.

The Pragmatic Investor covers global macro, international equities, commodities, tech and cryptocurrencies and is designed to guide investors of all levels in their journey. Features include a The Pragmatic Investor Portfolio, weekly market update newsletter, actionable trades, technical analysis, and a chat room. Learn more.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of BTC-USD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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