Re:What is a Bitcoin worth?
by anonporridge on Friday December 17, 2021 @12:58AM
(#29588414)
The key term there is "a year's time".
That's generally true for most fiat money in stable countries, but it becomes an absolutely terrible store of value for anything longer than a few years.
That's why most money kept with banks is kept in interest bearing accounts to at least keep up with inflation (obviously things have been a bit off kilter since the GFC and covid). Or that pound quickly moves into circulation.
money issued by central banks, fiat money, acts as a ‘store of value’ – it preserves the spending power of income and wealth, so that you can be confident that a pound, say, will buy about as much in a year’s time as it would today.