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Arthur Salzer his views with Dale Roberts of MoneySense on Bitcoin

  • Feb 7, 2021
  • 1 min read

Updated: Jul 17, 2021

What is bitcoin?

Bitcoin is a digital currency that many call the best cryptocurrency to buy, dubbing it “the new gold.” Of course, gold is one of the oldest currencies on earth, and currencies and methods of payment are always evolving.


What does this mean? Arthur Salzer of Northland Wealth Management offers:


“Monetary value usually arises from objects that are scarce, durable and relatively easy to divide. Since the dawn of civilization, societies have used rare seashells, wampum, glass beads, and stones as money or a form of record keeping. Gold is an ideal example since it can be made into jewelry, coins and bars, but bitcoin is unique in today’s digital world since it is scarce, durable, has strong privacy characteristics.”



These days, gold is rarely used as a form of payment; it’s seen more as a store of value, and an investment or portfolio asset that is not highly correlated to stocks and bonds and cash.


Similarly, supporters and owners of cryptocurrency invest in bitcoin because they see it as a store of value, and a useful portfolio asset. Bitcoin may also work its way into a direct method of payment as well. In other words, you might one day use bitcoin to buy a car or a loaf of bread. It’s a lot quicker and easier to send digital money than to lug around bars of gold.


The entire MoneySense article can can be found here.

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Important Disclosure: Northland Wealth Management Inc. is registered with the Ontario Securities Commission as a Portfolio Manager.

This article is provided for general informational and educational purposes only and does not constitute investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. The information contained herein is based on sources believed to be reliable as of the date of publication, but its accuracy or completeness is not guaranteed. Past performance is not indicative of future results. Any discussion of specific asset classes, investment strategies, or market conditions is general in nature and may not be suitable for your particular circumstances. Investment decisions should be made in consultation with a qualified advisor who understands your specific financial situation, objectives, and risk tolerance. Nothing in this article should be construed as a public offering of securities. Northland Wealth Management Inc. and its employees may hold positions in securities or asset classes discussed in this article.

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