However, she says Bitcoin is in a category of one. \u201cIt was the first-ever digital currency created. It developed the technology that all these other cryptocurrencies now run on and it has the mana and the longevity that I think it stands the test of time as a currency. It really acts like a store of value \u2013 like a digital gold.\u201d<\/p>\n
Bitcoin can act as a hedge against inflation, she says, because it is scarce. \u201cThere\u2019s only ever going to be 21 million Bitcoin. That\u2019s a really small number. The expectation is that this is actually deflationary \u2013 over time, Bitcoin becomes more scarce as more people want it.\u201d<\/p>\n
Grainger warns that cryptocurrencies classed as \u201cmeme coins\u201d can be particularly risky, and even Bitcoin remains volatile. \u201cYou could have Bitcoin drop 10% in a day, go up 5% in a day \u2013 these moves are not uncommon. You need to have the tolerance and the horizon for that.\u201d<\/p>\n
However, she believes digital assets can be a useful way to diversify your investments. \u201cPeople could look at putting up to or around 5% in digital assets. If you have a high risk tolerance and you\u2019re more risk seeking, you could go for more, but you definitely wouldn\u2019t want to put 100% of your assets into cryptocurrency.\u201d<\/p>\n
Listen to the full episode of The Prosperity Project<\/a> for more.<\/p>\n The podcast is hosted by Nadine Higgins, an experienced broadcaster and a financial adviser at Enable Me.<\/p>\n You can follow the podcast at iHeartRadio<\/a>, Apple Podcasts<\/a>, Spotify<\/a> or wherever you get your podcasts. New episodes are released every Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"However, she says Bitcoin is in a category of one. \u201cIt was the first-ever digital currency created. It…\n","protected":false},"author":2,"featured_media":114637,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[23562,21045,4236,81688,138,2134,1601,30208,1360,1426,302,2250,111,139,69,4517,3333,3263,20586,81689,312,9095,37451,3502,223,61,18270,102,379],"class_list":["post-114636","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-23562","tag-above","tag-bitcoin","tag-bitcoins","tag-business","tag-crypto","tag-expert","tag-fringe","tag-having","tag-investment","tag-its","tag-longer","tag-new-zealand","tag-newzealand","tag-nz","tag-past","tag-price","tag-project","tag-prosperity","tag-risen","tag-says","tag-secret","tag-sitting","tag-success","tag-the","tag-to","tag-usd","tag-with","tag-year"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/114636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=114636"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/114636\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/114637"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=114636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=114636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=114636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}