This article is for my friend Alejandro, but I figured there might be other people like him that could benefit from Bitcoin, and so I decided to share it.
Alejandro works really hard. When he was building my fence, he was here with his crew every morning before 8am, and rarely left before 8pm. Saturdays, Sundays, every day. He works hard to support his family in Mexico. He also saves a portion of it for the future, hoping to build a house one day.
However, Alejandro can’t invest in any of the assets that wealthy people do. He can’t buy a house. He can’t buy stocks. So he just keeps the money in his saving accounts with close to zero interest rate. While he is working hard and saving dollars, the government is printing new dollars even faster, and so next year his dollars will buy much less than today, and thus he will never build any wealth. This is why wealthy people got much wealthier during 2020: the huge amount of printed money went to wealthy people because poor people can’t participate.
With Bitcoin, anyone with internet connection can participate. You can buy $1 worth of Bitcoin, and hold it. You don’t need anyone’s permission, you don’t need to be wealthy.
Is it really gonna grow? I don’t know, but in so far, in the past 12 years, it’s been growing better than anything else. You can listen to people who understand economy like Michael Saylor, explaining in this podcast, or read PlanB’s model, if you want to learn more.
Alejandro is also under constant threat that the government will lock him out of his bank account and he will loose access to his savings. The bank often blocks his transactions to Mexico.
With Bitcoin, nobody can lock you out, or block your transactions. Only you can lock yourself out by loosing your keys. It’s a big responsibility, and freedom. It feels great!
So if I wanna try this, maybe buy a dollar worth of Bitcoin, what should I do? There are many ways. If you already have Square Cash app on you phone, you can buy Bitcoin with few taps. Another option is SwanBitcoin, which allows you to setup weekly purchases, without even thinking about it. Honestly, you can use any other ways to buy Bitcoin, just avoid platforms that don’t let you move your Bitcoins to your own wallet (ie. Robinhood or PayPal).
Some people might point out that when you hold Bitcoin in Square Cash app, or SwanBitcoin, you don’t really hold the keys, and thus you don’t really control it. They are right, but for now that’s ok. At least your wealth is growing. I will write a separate article on how to fix that.