I’m saying what most people around the world think of as solid forms of wealth…Property…Gold…Fluctuate greatly in value. In places like China they are used to this volatility somewhat even in safe haven assets .
I compare bitcoin in crypto markets to US bonds or USD and the stock market. It doesn’t mean they share the same volatility profile just similar functions. Trust in the USD underpins the Dow Jones and the whole US and worldwide financial system.
Trust in Bitcoin underpins the whole crypto market.
The USD and government and economy is unusually stable (even if the media say otherwise ) , there are many ‘strong’ currencies that fluctuate in value tremendously (yen and won being two). The US stock market has also been an unusually good story but most stock markets are nothing like that. Bitcoin has appeal for many people around the world. Its more stable and robust long term than developing countries bonds and stocks and currencies for example. It also cannot easily be confiscated or stolen by authorities (most developing countries are kleptocracies ). Basically the world ain’t all about America and the USD although it is still the big boy on the block.
So in the short term and for me I don’t think bitcoin is an ideal choice as a store of wealth but I understand why many think differently. Some folks can deal with the volatility and can hold long term.