Check out this episode on YouTube
Listen to this episode:
In this episode of Bitcoin Bottomline, moderators Steven McClurg and CJ Wilson discussed how to change your portfolio allocation based on inflation, what the infrastructure bill means for Bitcoin, and how bitcoin legislative involvement plays a role.
This episode delved into the details of the proposed U.S. infrastructure bill, including a perspective on the bill’s terminology. Using the example of a real estate agent, McClurg explained the term “broker” and how the definition of the word in the new infrastructure law differs from that of a crypto broker. McClurg stated that Bitcoin falls under the same rules as real estate because it is considered property by the IRS and is currently not considered a security by the US Securities and Exchange Commission. He went on to say that Bitcoin “should be an exception to the new law, and I think it will be”.
They later discussed Wilson’s meeting with Senator Ted Cruz and his interest in Bitcoin, made possible by the actions Bitcoiners have taken in contact with political figures to speak publicly on the matter.
Inflation is rising and McClurg gave some advice to the listeners:
“It doesn’t make sense to own bonds anymore,” he said. “Owning real estate, bitcoin, real estate, art, or other hard assets are the only things that can protect you from coming inflation.”
Wilson addressed the “freedom” and “future” aspects of Bitcoin.
“Whatever you have in your Bitcoin holdings today could potentially be a down payment on a house in the future,” he said.
Wilson and McClurg ended the episode by talking about how inflation could be worse than we thought.
“You see people gobbling up all these hard assets and saying, ‘This is special because it’s unique,” said Wilson.
McClurg shared a different perspective, stating that “not everyone has the ability to plow into hard assets to protect themselves”.
This begs the question: if house and car prices are increasing exponentially while wages remain relatively the same, how is the average American living from paycheck to paycheck going to retire?
