Around the world, more and more people have joined the cryptocurrency wave. As virtual currencies like Bitcoin are gaining acceptance as an asset store of value, and a means of payment for goods and services. For this reason, the comment of market analyst Scott Melker in the Tweet of the day, it would be but the summary of a maxim that is gaining importance among crypto users: Spend in dollars, save in Bitcoin.
Bitcoin and dollars for crypto users
Today, it is difficult to find a person in the entire world who doubts the value of Bitcoin as a financial asset. And it is that, even the most important crypto skeptics like Peter Schiff, accept that having BTC can make sense as a financial investment. What has allowed cryptocurrencies to become popular to the point where hundreds of millions of people make life within the crypto ecosystem.
However, this massification of crypto assets has hit a serious obstacle. Well, while fiat money such as US dollars are accepted worldwide as a medium of exchange for goods and services. Even today it is difficult to find merchants that accept payments with Bitcoin, due to the slowness of their transactions and volatility in its price.
Which has led to the fact that, although there are solutions such as cryptocurrency debit cards, users must assume a principle in their financial management. At least while Bitcoin reaches significant commercial use globally.
Thus, crypto users would use US dollars to purchase goods and services without being exposed to inflation, while keeping their Bitcoins as a means of saving. As Scott Melker commented on his Twitter account:
«Dollars are for spending, Bitcoin is for saving«.
With this message, Melker does nothing but synthesize the feelings of many crypto users. Which, although they trust that they will soon be able to use their Bitcoins as common currency throughout the world. While that day arrives they implement the principle “spend in dollars, save in Bitcoin”.