Bitcoin Is Not A Store Of Value (Cryptocurrency:BTC-USD)

Apparently, we are the rare Bitcoin (BTC-USD) bear here on Seeking Alpha, and our last article generated quite a lot of consternation from bulls.

Today, we address the Bitcoin bull claim that Bitcoin is a “store of value”.

We disagree. In fact, we don’t believe it will ever be a “store of value”.

That serves our grander point: we see Bitcoin as nothing more than a random spin of a wheel of fortune that is no different from Las Vegas, but with worse odds.

You should not “invest” in Bitcoin, nor hold your money in it. Ever.

“Store” of “Value”

A store is a place for something. Value is the worth we assign something. An object with value has some kind of tangible worth.

It may be food. It may be real estate. It may even be a collectible, in which case the value is more subjective than objective.

You may see value in a Picasso. I may not. In a zombie apocalypse, you may still see value in that Picasso, but I will prefer the objective value of a bazooka (with things to shoot from it).

If…