By Oliver Ross

As we inch towards 2030 and beyond, the terms blockchain and digital currencies are more commonly presented by the global elites as a means of dealing with inflation. They seem to be the tools the globalists wish to use for a new monetary paradigm as part of Bretton Woods 3. As central bank digital currencies become a reality, many people reflexively jump on the cryptocurrency bandwagon as the answer to this problem.

Many believe that because of the decentralized nature of cryptocurrency tokens, they are the key to taking back monetary power from central banks and globalists. Even though there is value to that sentiment, it is important not to become strict bitcoin (or cryptocurrency) maximalists as this creates unnecessary risks in an already tumultuous time.

Throughout the last two years (or longer) many people have reassessed where and how their wealth should be stored and preserved. Many probably had or still have stocks, mutual funds, RRSPs or any other assortment of bank or Wall Street associated investments. When the average person thinks of asset diversification, they usually think of having funds in different sectors like energy or agriculture; however, when investing in this manner, your funds are still locked up in an institution.

There is rightful fear now that these funds could get frozen by the government or banks alike which has led people to look at means of truly diversifying where their hard earned money is held. In this approach, there are many asset classes that have some degrees of separation from the current banking system including cryptocurrencies, physical metals, or even property ownership.

Bringing the focus back to cryptocurrency, it is important to first understand what both bitcoin and cryptocurrency maximalism is to determine both the upsides and downsides of being a cryptocurrency maximalist. There are many degrees to bitcoin maximalism; extreme maximalists believe that bitcoin is the one true cryptocurrency and nothing else can ever match it. These people tend to only hold and trade (if they do any trading at all) bitcoin only. While there is some merit to having a strict approach to what makes a cryptocurrency and what factors are important for a blockchain based project, it is also important to not become too strict in this regard.

There are two primary reasons for individuals to become cryptocurrency maximalists: decoupling from the current monetary system and trying to become wealthy. When branching out of bitcoin alone, the cryptocurrency market has many opportunities to increase wealth. With the high level of volatility and the many different protocols for making passive income, cryptocurrency is a very enticing environment. For these reasons, many people may want to put all of their funds into crypto and diversify by having funds in different wallets and tokens.

There is also the added benefit of being able to transact using cryptocurrency. However, also due to the volatility of the market, it is very easy to lose money. Furthermore, if an individual does not research the wallets, exchanges, and tokens they are using, then their funds may disappear. That is not to mention the obvious implications of only having funds in a digital currency, especially now with internet security issues increasing. While cryptocurrency is an important component to anyone’s portfolio, losing sight of the potential downsides of the asset class can be damaging.

If there was ever a time to be extra careful with where and how you invest your time and money, this is it. With every passing day, the importance of having investments outside the system, like cryptocurrency and precious metals, become more important.

Always remember that placing all funds in one asset class can result in losing everything. It is important to not put all of your eggs in one basket or you may end up owning nothing (and not being happy).

Learn more about Oliver and his work @ libertylives00.com