You’re Doing it Wrong if You Accumulate Dollars Over Bitcoin

In a death knell to the dollar, Peter Brandt says the goal should be to stockpile Bitcoin. The renowned trader admitted his previous trading goal, to accumulate dollars, was the wrong strategy to have. But in the last year, Brandt said his mindset has shifted to favor the leading cryptocurrency.

Stacking Bitcoin is The Way to go

Speaking to Laura Shin, Brandt said he previously measured his wealth in U.S. dollars. His attitude was to stack dollars at the exclusion of everything else. However,  within the last year, his mindset has shifted. He now sees Bitcoin as the asset to stack over everything else.

“And so, Bitcoin was just a trade, but I think really within the last year, my mindset has really changed… Bitcoin is where I would have wanted all my wealth at some point in time.”

His reasons for the flip? Like many before him have pointed out, Brandt said he wised up to the fallacy of measuring wealth in a depreciating asset. Even going as far as calling the dollar “the most depreciating asset in the world.”

With his new outlook, instead of trading Bitcoin for dollars, Brandt now sees Bitcoin as the measure of wealth, not dollars.

“what that now tells me is that I had a wrong goal because my goal was to accumulate the weakest asset in the world. The most depreciating asset in the world, and that’s U.S. dollars. And so, my mindset has really changed within the last year in terms of moving from Bitcoin as a trade to Bitcoin as a measure of wealth.”

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