The answer is stablecoins. Stablecoins are digital assets similar to Bitcoin, except their price doesn't fluctuate.
Ric Edelman: Welcome back to The Truth About Your Future. There's no question that you've heard of Bitcoin and other digital assets, and there's no question that you are familiar with the incredible volatility of Bitcoin and other digital assets. That volatility for most people is a reason to stay away. It's a reason that people fear digital assets. Wouldn't it be cool if there was a digital asset like Bitcoin that wasn't volatile, that was in fact stable in value, just like, you know, your bank account is stable and value. A lot of people like bank accounts over stocks because bank accounts are stable, stocks are volatile. Well, guess what? If you don't like the volatility of Bitcoin, then go get a stablecoin. These stablecoins are digital assets similar to Bitcoin, except that their price doesn't fluctuate, just like your bank account doesn't fluctuate. How do they pull that off? It's easy. The money that you place into a stablecoin is invested into U.S. Treasuries and bank CDs and things like that. In other words, assets that don't fluctuate in value. Stablecoins are considered as safe as bank accounts and US Treasuries because that's what they invest in and billions of dollars have been placed into stablecoins for exactly that reason. Why bother buying a stablecoin if the price doesn't fluctuate? When you're not buying it for price fluctuation, you're buying the stablecoin to make it easy to move money online freely, immediately, securely, and with transparency. Benefits you don't get through the global financial system. Stablecoins, one of the big reasons there's a lot of excitement about blockchain technology. Want to learn more about it? Read my new book, The Truth About Crypto. Order it from your favorite bookseller.