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