Crypto analyst Scott Melker summarized in a tweet the maxim that guides much of the crypto world: spend in dollars, save in Bitcoin.
All over the world more and more people have joined the wave of cryptomonies. As virtual currencies like Bitcoin Era are gaining acceptance as an active store of value, and means of payment for goods and services. Therefore, the comment of market analyst Scott Melker in the Tweet of the Day, would be nothing more than the summary of a maxim that is gaining importance among crypto users: Spend in dollars, save in Bitcoin.
Bitcoin volatility (BTC) lower than ever
Bitcoin and dollars for crypto users
Today, it’s hard to find a person in the world who doubts the value of Bitcoin as a financial asset. Because even the biggest crypto skeptics like Peter Schiff accept that having BTC can make sense as a financial investment. This has allowed crypto currencies to become popular to the point where hundreds of millions of people make life within the crypto ecosystem.
However, this massification of cryptoactives has hit a serious obstacle. For, while fiat money like US dollars are accepted worldwide as a means of exchange for goods and services. Even today, it’s difficult to find merchants who accept Bitcoin payments, due to the slowness of their transactions and the volatility of their price.
This has led to the fact that, although solutions such as crypto-currency debit cards exist, users must assume a principle in their financial management. At least as long as Bitcoin is in significant commercial use worldwide.
Thus, crypto users would use U.S. dollars to acquire goods and services without being exposed to inflation, while saving their Bitcoins as a means of saving. As Scott Melker commented in his Twitter account:
„Dollars are for spending, Bitcoin is for saving.
With this message, Melker does nothing but synthesize the feeling of many crypto users. Although they are confident that they will soon be able to use their Bitcoins as a common currency around the world. As that day arrives, they implement the principle „spend in dollars, save in Bitcoin“.