Paul Vigna

speaker

1,291 appearances 13 recordings 1 series first heard Jul 2017 last heard Apr 2022

Paul Vigna’s voice in public audio — every appearance, attributed to the second.

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It hasn't quite worked out that way.

A lot of people now buy Bitcoin for reasons that have nothing to do with wanting to spend it.

They're buying it because they think it's going to be an inflation hedge.

They're buying it because they think the U.S.

currency is being debased.

So I want to have something to protect against, you know, the ultimate collapse of the global financial system.

They're buying it because they think it's a digital version of gold.

So that crowd, that buy and hold crowd, that works against Bitcoin.

Bitcoin's buy and use to buy things crowd.

If you're buying Bitcoin and the price is going up, are you going to want to use that to spend on something you want to buy on Amazon?

Or are you going to think, oh, I should hold it because the price is going to go up?

I'm not going to go buy a book with it because that book is going to lose me money in the long run.

So Bitcoin has some use as a payments currency, as a payments currency.

Some people do use it for that, but it hasn't really evolved that that's become a major use case of it.

So it'll be interesting to see if people do want to do that.

If you bought a year ago, you've made a lot of money.

So you might be looking at Bitcoin, your Bitcoin holdings is like, I got...

fat on my Bitcoin holdings.

I've got money that I just did not have a year ago.

I'm going to go buy something.

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