Finance youtuber Thiago Nigro, better known as Primo Rico, posted a video on Tuesday (10) where he cites five reasons he believes make bitcoin an attractive investment asset.
“One of the things I’m most asked about is bitcoin”, said Nigro, justifying the creation of the “simple, punctual and objective” video about the reasons that make him want to have bitcoin.
Bitcoin is democratic
Thiago Nigro begins by tracing one of the highest values of bitcoin, which is a democratic asset, that is, anyone can buy, whichever is a minimum value, as 1 BTC has eight decimal places — 0.00000001 btc costs R$ 0 on this date, 0024 — and therefore affordable.
Another sovereign point of bitcoin cited by Primo Rico is that it is an “unconfiscable” asset by the government, thus providing an extra layer of security. “Bitcoin is yours”, pointed out the youtuber. As an argument, he cited the confiscation of Brazilian savings during the Collor government in 1990.
“Bitcoin can be bought, sold, and can be traded at any time,” Nigro said to justify another point he considers the democratic pillar of cryptocurrency. YouTuber also recalled that investors can expose themselves to bitcoin in several ways, either buying on an exchange or investing in bitcoin ETFs or ethereum in regulated brokers.
“Exercise in the humility of self-forgiveness”
“Buying bitcoin is an exercise in the humility of self-forgiveness,” said Cousin Rico of the second reason he cherishes investing in cryptocurrency. He explained:
“Nobody can predict the future, which carries an invisible risk of happening so many different things that even if we think we are prepared, we can be taken by surprise. No matter how prepared you are, a lot will happen in your life.”
And bitcoin is the same thing, Nigro continued. Who believed that bitcoin would come at the price it did? Who knows how high the price will be? What if it’s zero and it’s worth nothing?… Nobody knows, he said.
“And as we don’t know, we need to be humble in the face of this great uncertainty. And on the other hand, self-forgiveness, because sometimes you can buy bitcoin and it drops too much and then you should forgive yourself, because it’s the price of exposing yourself to something convex, that is, you can win a lot or you can lose a little”, said Nigro.
The limited number of bitcoins that can exist — just 21 million BTCs — is what makes it a scarce asset. This was the third reason cited by Cousin Rico.
Drawing an analogy with the recurring dollar prints across the US, youtuber said: “After that, you can’t print/mine more bitcoins; it is the power of scarcity”, he summed up, noting that in the future the ‘little door’ may be too small for a large number of people who wanted to enter.
Bitcoin is convex, that is, exposing yourself to a situation where you can win more than lose, said Nigro, citing that convexity is one of the great successes in investments.
Big investors eyeing Bitcoin
Primo Rico ended the video talking about the interest of big investors in the biggest cryptocurrency in the world and also of its critics.
And he cited positive comments about bitcoin from such personalities as Rich Dad Poor Dad author Robert Kiyosaki and investment veteran Ray Dalio, founder of Bridgewater Associates, and Microsoft founder Bill Gates.
He also read negative comments about the cryptocurrency, such as that of the American investor and philanthropist, Warren Buffett, and the biggest individual Brazilian investor, Luiz Barsi.