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This episode of “Bitcoin Bottom Line” dealt with one of the current hot topics of the cryptocurrency ecosystem: non-fungible tokens (NFTs). Hosts Steven McClurg and CJ Wilson brought Malibu artist and marketer at Valkyrie Annie Little to share her perspective on the value of art.
Is the value objective or subjective?
Little discussed the difference between traditional and digital art and how the value of each depends on certain variables. She addressed the high barrier to entry for traditional physical art and how such pieces require external resources such as time, special instruments and materials, weight, the list goes on.
“You have to get to know the material personally. It has to be your third hand, ”Little explained.
Then Wilson said that for him the value lies in it.
McClurg referred to the sixth episode of “Bitcoin Bottom Line” by sharing the value of investing in art as a hedge against inflation. He went on to introduce the opportunities associated with owning a work of art, noting that “many wealthy individuals will diversify their portfolios by purchasing fine art.”
Wilson said he is having a hard time buying other in-store media while focusing on Bitcoin.
“Sometimes you worry it’ll cost four or five dollars to put a dollar in the wrong bucket,” he said.
He went on to explain how Bitcoiners have been criticized for being too “locked in their ways” as it is the oldest cryptocurrency. However, he shared that “there is a bias in success … if you succeed early with something, you don’t necessarily want to change too much … there is a good result here.”
Hailing from the traditional financial sector, most of McClurg’s portfolio was bonds, but with inflation as a variable, he said, “I had to completely give up what I know best to focus on something else, which is digital assets . “
Well, “digital currencies like Bitcoin are really my main focus,” he added. However, he did share that people should invest in what they know best and bet on themselves.
At the end of the interview, the hosts shared their observations that the younger generation does not seem as obsessed with excessive consumerism as the previous generation. McClurg shared how his son revealed this behavior to him through the lens of the fast cycle of “popular” Fortnite skins, for which Little blamed our technology-related shortening of the attention span.
Wilson ended the interview with some life advice: “To have a successful mindset in life, you have to have a long-term perspective. With all the fluctuations in life you have to consider: ‘How do I keep this stable, how should it work?’ “
“Bitcoin is your chance to get off the hamster wheel and once you step off the wheel you are free,” he said.