How to treat bitcoin

Throughout history, gold, commodities and even land were confiscated during the crisis. Equally disturbing, as we have seen in Venezuela, people there are struggling with high inflation, and sometimes it is extremely difficult to convert funds into another currency, which makes people feel helpless and can only watch their life savings worthless. Bitcoin is very different. It is in electronic form and has no national boundaries. It can be transmitted without any intermediary, and anyone connected to a mobile device or the Internet can use it. All transactions are permanently recorded in the public books, and there is no ownership dispute.

In a recent article in The New York Times, a Venezuelan economist described how bitcoin has become a part of Venezuela's daily life, so that on a mainstream bitcoin trading platform, Venezuela's trading volume is second only to Russian, ranking second in the world. But bitcoin can not only be used to protect wealth under extreme conditions. In general, bitcoin is also an excellent choice for portfolio diversification and should be regarded as part of a comprehensive wealth preservation strategy.