Recently had a conversation with a 64 year old coworker who believes the stock market/investing is a scam.
It's one of those conversations where I just let the other person talk to understand their perspective. I have no interest in changing someone's mind especially when they are this late in the game.
She got burned in 2000 and 2008.
I didn't venture to ask what her situation is now.
But it did get me thinking about the majority of people.
Most people do not invest.
Of the ones that do, this is mostly through passive strategies.
Although I believe Bitcoin will eventually fully integrate into the traditional investing world, there will be many people who really don't care.
That is a little depressing to think about but that's mostly human nature.
I personally know 2 doctors with crippling debt who are living paycheck to paycheck (lifestyle creep is real, especially with doctors' wives).
It's made me realize that many people will not put in the time to understand investing, let alone Bitcoin. And some people can't even invest given their circumstances.
In my small town growing up, it was always the older farmers who were covert millionaires. Probably because they had a growth mindset, have a history of hedging bad seasons, and don't spend beyond their means.
It's funny because my definition of "rich" has changed substantially with a greater understanding of investing.
Just some random thoughts, I don't believe many people will be buying Bitcoin at 100k, there may be some fomo but interest will disappear when another 30% correction happens.
And we'll have the same "Bitcoin is dead!" Headlines.
Edit: I think it's important to remember the amount of people who actively invest whenever Bitcoin goes on another maniac rally. Even in a hyperbitcoinized world people will blow their Bitcoin as soon as they get it.
Bitcoin is a gift for savers but anyone who is not a saver probably doesn't care.
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