The Ministry of Labor has promised an increase in pensions. But experts still recommend bitcoin
The growth of real pensions in Russia will be ensured until 2024, said the press ministry of the Ministry of Labor. The department explained that pensions will be indexed above the level of expected inflation. From 1 January 2021, the payment size will increase by 6.3%, from the beginning of 2022 – by 5.9%, from 2023 – by 5.6% and from 2024 – by 5.5%.
Cryptocurrency can also help provide a decent pension. For example, analysts at one of the oldest US cryptocurrency exchanges, Kraken, said that Bitcoin will rise in price to $ 350,000 by 2044. Reason: the younger generation. It will make a choice in favor of digital assets and will invest approximately $ 1 trillion in them over the next 25 years.
Co-founder of EXANTE Anatoly Knyazev believes that with the expectation of retirement, one can invest in bitcoin every day in small amounts. But it should be remembered that cryptocurrency is a promising but extremely speculative asset. It does not produce anything and does not pay dividends like gold. Therefore, it is worth having BTC in your portfolio, but it is not worth investing absolutely all your savings in it.
“For investments of 20-30 years, it does not matter when to buy. Despite local disadvantages, the overall dynamics will be positive. The most important thing is to do it evenly and every month, "Knyazev shared.
He added that many pension funds (including US) have emerged around the world, investing some of their assets in cryptocurrencies. Such organizations follow the safest and most conservative strategies. This means that fund managers are positive about the future of cryptocurrencies.
Grigory Klumov, the founder of the stable cryptocurrency platform STASIS, also sees opportunities to invest in cryptocurrency. According to him, bitcoin for retirement is always worth saving, there is no bad day to buy a coin in the long run.
The CEO of Six Nines data center, Sergei Troshin, also spoke positively about the idea of saving money in cryptocurrency for retirement. The interval of 20-30 years is a long-term perspective, and if Bitcoin does not completely disappear as an asset, it undoubtedly has prospects for growth. But when you buy a coin, you must be prepared for a possible reduction of the rate by more than 50%,
“It is possible to invest in a time frame of several decades at any level. But if you look at the chart in recent years, bitcoin rose above $ 10,000 and then fell again. We need to invest, but be prepared to survive the disadvantages and also buy in addition: we have already seen several local declines up to $ 5,000, "said Troshin.
He noted that among the employees of his company, there are those who each month invest part of their salary in bitcoin and buy it for old age. Troshin also suggested considering alternatives, such as Ethereum, and monitoring industry developments for the emergence of new promising projects.
Knyazev also recommended not staying on a bitcoin. A smart investment strategy – a set of cryptoassettes and regular port balance balancing. It may contain different cryptocurrencies. We're talking about platforms for creating tokens, such as Ethereum, the decentralized finance (DeFi) sector, the Internet of Things and anonymous digital money.
The expert added that investing in bitcoin has several significant risks. First of all, this is the appearance of other blockchains, because of this, the first cryptocurrency may lose popularity and as a result become cheaper. Another problem is a possible ban in countries that fear the loss of control over the monetary system and population transactions.
And most important of all is the security of the private key, without which it is impossible to access cryptocurrency. According to Chainalysis, users have lost 3.7 million BTC as of June. This is about 20% of the coin's current issue and more than $ 40 billion at the current rate of $ 11,000.
Klumov recommended in this regard to make several copies of the key and store them in different safes. The expert also admitted that there will be several popular blockchains over 20-30 years. Despite this, Bitcoin will remain digital gold and retain its value during this period.
Troshin agreed that there is a risk of competition and that it is significant. It is "quite likely" that bitcoin will be replaced by another cryptocurrency and the first digital money will not be of interest to society. Another risk to consider is the death of the entire digital asset market. Although this is unlikely, the company manager said.
In June, Blockstream CEO Adam Back announced that Bitcoin would rise to $ 300,000 within five years. This will happen without institutional investors appearing in the crypto market. Such statements obviously have a certain impact on the market. Every day, more and more people are paying attention to cryptocurrency. Explain this, including the current crisis and the weakening of money.