The US President announced yesterday that XRP, Cardano (ADA) and Solana (SOL) will be included in the national strategic reserve along with Bitcoin (BTC) and Ethereum (ETH).
While this announcement revived the market, surprising statements about Bitcoin came from Solana founder Anatoly Yakovenko.
Arguing that Bitcoin has no value, Yakovenko claimed that Bitcoin is not suitable as an investment.
Stating that Bitcoin is not an investment but an expense, the famous name said that the main purpose of using BTC is to act as insurance against the possible collapse of a country that boasts only about its economic and military power.
“Bitcoin has no value. It is merely an insurance policy in the event of a superpower collapse. Based on my lifetime of experience, the probability of a superpower collapsing in any given year is 1%.
It's worth spending 1% of my wealth on an asset that might not go to zero in that environment.
BTC is not an investment, it is a cost and there is no guarantee it will work.”
*This is not investment advice.
Hes not really wrong. Its more of just a Store of Value. However Nations are Vying for it.