“It’s not like Bitcoin, which is used primarily as a store of value. It’s more transactional,” says Michael Zagari, Investment Advisor & Associate Portfolio Manager with Wellington-Altus Private Wealth.
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“In Canada, we’re privileged to be able to send money back and forth in e-mail transfers that cost almost nothing,” Zagari says. “For many countries, those transfers are very costly. Bitcoin is also a store of value. In countries such as Argentina, with out-of-control inflation, people are more encouraged to spend their money than to save it because there’s no valid storage of value in their currency.
Michael Zagari says the new era in the investment world calls for an open mind about emerging asset classes, including Bitcoin-related investment vehicles. “This mindset isn’t just crucial for wealth creators but also those focused on wealth preservation,” he says.
