Is BITCOIN just for Rich People?

00:02 hey everyone here’s a quick question I
00:03 get asked sometime which is is Bitcoin
00:05 just for rich people uh the answer is of
00:08 course no just like investing of any
00:10 kind is not restricted to any sort of uh
00:13 you know net worth or asset uh class Etc
00:16 um in fact the farther you are from your
00:19 financial objectives and the faster you
00:22 want to get there in many cases Bitcoin
00:24 you know can help the most um so if you
00:27 are already a high net worth person you
00:29 probably already have other good
00:32 Investments options they may not be as
00:33 good as Bitcoin but at least you’re
00:34 allowed to make private Investments if
00:36 you’re um you know if you’re high at
00:38 worth you’re allowed to invest in
00:39 private companies otherwise the SEC will
00:41 not let you invest in private companies
00:43 and they will not let private companies
00:45 take money from you uh unless your net
00:47 worth is above a certain level um but
00:49 anyway so I would say the benefit of
00:50 Bitcoin is anyone can own it and I
00:53 wanted to use a real quick sort of
00:54 extreme example which is if uh you know
00:56 if a homeless person came to me and said
00:59 hey I got nothing you know what can
01:01 Bitcoin do for me first I would say well
01:03 first of all Bitcoin is not going to
01:05 create money out of thin air right I
01:07 mean Bitcoin can significantly amplify
01:09 money but it’s not going to create it
01:11 from scratch so the advice I would give
01:13 to somebody who has nothing I would say
01:14 well look you know you know go go
01:16 through the process of learning as much
01:18 as you can about uh you know how to make
01:20 money and do whatever you got to do to
01:21 make money and the only difference of
01:23 what I would recommend as compared to
01:25 you know anybody else helping them in
01:26 that process is I would say try to earn
01:29 as much money more then you need to
01:31 survive as you can and put it in Bitcoin
01:34 and what Bitcoin is going to do for you
01:36 is over time it’s going to appreciate
01:39 faster than your other assets that you
01:41 could invest in so could they invest in
01:43 the stock market yes but it’s it’s got
01:45 volatility too and when the stock market
01:47 crashes it can take years and years to
01:49 come back uh typically you know bit
01:51 Bitcoin has a price correction it’s it
01:53 comes back quite quickly um so so even
01:56 you know no matter how high or low
01:58 someone’s net worth is I would say
02:00 Bitcoin is an incredible tool and a you
02:03 know a a rare opportunity to catch a
02:05 major technological shift that is not um
02:09 you know very unlikely to be obsoleted
02:11 by some other technology or something
02:12 like that so um so anyway so the answer
02:15 is is Bitcoin just for rich people know
02:17 it’s fantastic it’s available for
02:18 everyone and even if you are in the most
02:20 dire of situations such as trying to dig
02:23 yourself out of you know having zero
02:25 assets starting homeless I would say
02:28 it’s still an incredible tool but
02:29 obviously you got to make money somehow
02:31 to have something to put in Bitcoin and
02:34 you know but as long as you have some
02:35 money more than what you need to survive
02:38 I think Bitcoin is going to perform
02:39 better over the long term uh than uh you
02:42 know than any other asset you could put
02:44 money in honestly so hopefully that
02:46 helps again thanks