I don’t think the USSR existed during a global pandemic. In fact, I would posit that the globalized nature of our economy adds a new twist to any pandemic that has come before. I don’t think the absoluteness of your position is warranted.
As you mentioned in another reply- diversification of ones’ portfolio is important. I, and most people, would never put all their money into BTC or crypto in general. That would clearly be a bad decision. But, why _shouldn’t_ I put <10% of my portfolio in a new asset class that has growth potential? Many people put 10% of their portfolio into all kinds of crazy things.
> I don’t think the USSR existed during a global pandemic.
The USSR existed during multiple global conflicts. The USSR existed during the oil crisis in the 70s. Russia existed during multiple global conflicts. Russia existed through multiple global economic crises including the one in 2008.
And through it all the fall f the US dollar was just around the corner. Within weeks. Well, months at most.
In 1998 I was an exchange student in the US. I read an editorial in some newspaper like The NY Timesthat argued that financial crisis that would kill the dollar was inevitable within at most two-three years. And yet, here we are.
So no, I don't buy "you sould put money in bitcoin because of course USD is going to deflate and is on the brink of major problems." as an argument for storing 10 million dollars in Bitcoin.
On top of that this entire argument ignores the actual reality of how people protected their assets before Bitcoin. Let me show you how: https://dataroma.com/m/holdings.php?m=BRK
As you mentioned in another reply- diversification of ones’ portfolio is important. I, and most people, would never put all their money into BTC or crypto in general. That would clearly be a bad decision. But, why _shouldn’t_ I put <10% of my portfolio in a new asset class that has growth potential? Many people put 10% of their portfolio into all kinds of crazy things.