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Bitcoin, Solana, and Dogecoin: The Cryptos Changing Our View of Money
Money Isn’t What It Used to Be: Why Crypto is Reshaping the Future of Value
Why Bitcoin, Solana, and Dogecoin Are the Future of Money
As a wide variety of cryptocurrencies continue to rise alongside traditional fiat currencies issued by governments, it’s clear that money isn’t what it used to be. While cash still reigns supreme when it comes to buying goods and services in the physical world, there’s reason to believe that in just a few years, your understanding of what money really is will become far more expansive.
Let’s dive into three cryptocurrencies that represent these changes, helping you prepare to think ahead of the curve.
1. Bitcoin (BTC)
Bitcoin’s (CRYPTO: BTC) reputation as “digital gold” is growing rapidly, making it the perfect example of how the concept of money as a store of value is evolving to become more fluid and less tied to physical objects.
Traditionally, people consider physical gold as a store of value. Apart from being shiny, rare, and requiring significant effort to mine and refine, gold is useful in various applications, including smartphone manufacturing and jewelry making. Its longstanding history of being valued across different cultures and eras has contributed to its reputation as a reliable store of wealth.
Currently, the global market cap of gold, priced at around $2,751 per ounce, stands at about $18.4 trillion. Bitcoin’s market cap is hovering around $2.1 trillion.
Can you see where this is going?
Bitcoin’s market cap will likely surpass gold at some point, and it might even grow much larger. However, this doesn’t mean gold will lose its value. Rather, Bitcoin’s superior convenience as a store of value will likely increase its demand.
The takeaway here isn’t to sell your gold—it’s to buy Bitcoin, as it’s likely to grow slowly like gold, acting as a store of value for the long term, rather than offering the high growth potential typical of investments.
2. Solana (SOL)
Solana (CRYPTO: SOL) also offers valuable lessons about the future of money. The Solana blockchain supports everything from decentralized finance (DeFi) to minting non-fungible tokens (NFTs), investing in meme coins, and facilitating cross-chain interactions.
Solana serves as a medium for transferring value, storing wealth, and can be expended directly to access utility in various ways. These features are commonly seen in traditional currencies, particularly gold. But Solana offers something beyond that.
By investing in meme coins, Solana holders are signaling which ideas or memes they believe will be more valuable, widespread, and accepted in the future. While this information is mostly frivolous for now, it’s evolving.
Moreover, Solana’s meme coins can help individuals express their identity and affiliations. After all, people are less likely to invest in meme coins that conflict with their personal values. This new element is beginning to reshape the concept of money.
Buying Solana is a solid way to tap into this trend’s growth potential.
3. Dogecoin (DOGE)
Dogecoin (CRYPTO: DOGE) is the final example of a potential future for money. While Dogecoin initially gained fame as a meme coin, its continued survival has profound implications.
For most people, holding dollar bills or cash in an investment account doesn’t seem very entertaining. The fun value of money generally comes from its ability to provide things and experiences you enjoy. While speculative investments can be thrilling, the volatility and risk of losses often outweigh the excitement.
However, if you’ve spoken to a Dogecoin investor, you’ll notice the idea that money can be fun in and of itself. With Dogecoin, there’s the possibility of a large windfall—or loss. Creating or sharing memes about Dogecoin doesn’t feel as exciting unless you’re financially invested in its price movement. But if you hold a substantial amount of DOGE tokens, the experience can be unexpectedly entertaining for those invested, even if it seems inexplicable to others.
Essentially, Dogecoin demonstrates that in the future, money may be seen not just as a tool for transactions, but also as a source of entertainment and emotional engagement, driven by the possibility of large gains.
The takeaway? Those who can control their emotions and focus on the long-term potential will likely come out ahead.
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