Our rand is losing value too quickly my argument for bitcoin
On the 31st of March 2022 we trade for R14.61 to a dollar.
Today we trade at R18.57 per dollar.
We have lost about 22% of our purchasing power in one year ( please check my maths and answer but it sounds right ) or we have lost about 1/4th of our purchasing power.
You need let that sink in for a bit. The amount we have lost and the short space and time this has happened.
I bought x amount of bitcoin last year at a price of $43000. Today if I want to break even the price of bitcoin only needs to go to about $32000. Let that sink in.
Let the fact sink in about this, I am 30% down in $ terms but almost break even in rand terms.
What the actual fuck is going on with our country ? I don't have any suggestions for other people I can only vouch for myself, but this is why I bought btc to protect my purchasing power. And it delivered.
What you doing to protect your wealth ?
Ps food for thought , if you bought a house last year and it's price didn't go up by 22% in rand terms you are technically poorer than you were.
If your investments aren't up 22% since last year you are poorer than before.
This is just mind boggling crazy that we pay this goverment to fuck us so hard and so quick.
Rant over thank for coming to my Ted talk
Edit: if not bitcoin what are you buying or doing to protect your wealth from being eroded away?