For the most part all of us hold currency for day to day expenses. We hold stocks in retirement and investment funds, and knowingly or unknowingly we hold bonds in those same funds or money market accounts in preparation for investment. There are many who don't hold precious metal, and some of those same people are the ones who tell others that zero is the correct allocation to an asset that has held its value and protected its owners through harrowing economic crisis. I argued that without holding at least some of an asset, even a token amount, it is hard to pass judgment, particularly when you own the others. Without holding at least some of an asset there is a natural human reaction to want to see it fail for fear of that 'missing out' feeling if it does succeed.
I have been a strong bitcoin skeptic for several reasons, most notably its unknown origin coupled with past government research into crypto currency, and what I believe is questionable timing. These coupled together could make one think that bitcoin could be a beta test for a government sponsored crypto currency. With all that said I also have witnessed how bitcoin reacted to the Cyprus bail in, the Greek crisis round one, the Ruble Crisis, Greek Crisis round two, and most recently the Chinese capital controls. The upward reaction of bitcoin to these monetary hiccups can't be ignored if you believe major monetary turmoil is on the horizon as I do.
