What is the best way to protect your money in a wartime economy?

Russia’s invasion of Ukraine has many of us thinking about alternatives to the traditional monetary system. And wondering if the blockchain is a good backup plan.

So, can you safeguard your money by investing in cryptocurrency? What is the best way to approach this new asset class?

James Altucher is the former hedge fund manager and serial entrepreneur behind the Altucher Investment Network, a newsletter offering investment recommendations based on insights from James’ powerful network of business leaders and Wall Street insiders.

James is also the bestselling author of several books, and his latest release is called The Big Book of Crypto: How to Get Rich in the New Age of Digital Money.

On this episode of The Wiggin Sessions, James joins me to share his perspective on the Russian invasion of Ukraine and explain why gold is a ‘flight to safety’ for older generations, while younger generations prefer crypto.

James discusses how we might use the blockchain as an alternative to the centralized wiring system between international banks and describes several real-world use cases for crypto, like instant international eCommerce transactions or NFTs as event tickets.

Listen in for insight around crypto’s evolution from speculative investment to alternative monetary system and learn James’ thoughtful approach to managing your money in this new asset class.

Key Takeaways

[1:55] James’ perspective on the Russian invasion of Ukraine

[7:29] Why James is not worried about the price of oil in the US

[12:44] How gold serves as a ‘flight to safety’ for older generations, while younger generations prefer crypto (and the blockchain as an alternative to the centralized wiring system between international banks)

[17:23] Crypto’s evolution from speculative investment to alternative monetary system and some real-world use cases for crypto (e.g.: using NFTs for event tickets)

[23:02] The implications of the Fed creating a crypto version of the US dollar

[27:46] How James thinks about the volatility of Bitcoin and his thoughtful approach to managing money in crypto

[33:25] How tokens get ‘burned’ in the process of validating an Ethereum transaction

[36:20] How RNDR tokens are used to build 3D graphics for VR

[38:54] James’ intention in writing The Big Book of Crypto

[42:26] The resistance to how the blockchain might disrupt mainstream industries

[45:17] The solid arguments for $180K ETH and $500K BTC in the next few years

[48:47] How James makes decisions around what tokens to recommend in Altucher’s Investment Network

[51:00] The impact of Super Bowl ads for crypto trading platforms

Connect with James Altucher

Subscribe to Altucher’s Investment Network

The James Altucher Show

The Big Book of Crypto: How to Get Rich in the New Age of Digital Money by James Altucher and Chris Campbell

Connect with Addison Wiggin

Consilience Financial

Be sure to follow The Wiggin Sessions on your socials. You can find me on—

Facebook @thewigginsessions

Instagram @thewigginsessions

Twitter @WigginSessions

Resources

5-Minute Forecast

Skip the Line: The 10,000 Experiments Rule and Other Advice for Reaching Your Goals by James Altucher

Choose Yourself! Be Happy, Make Millions, Live the Dream by James Altucher

The Choose Yourself Guide to Wealth by James Altucher

Reinvent Yourself by James Altucher

James Altucher on Wiggin Sessions EP009

Dmitri Alperovitch on Hidden Forces EP226

‘Here Comes $7 Gas’ in Bonner Private Research

SWIFT

Coinbase

Terra (LUNA)

Gary Kasparov

RNDR Token

‘New Alfa Romeo SUV Uses NFT and Blockchain to Track Car Records’ in Cointelegraph

Filecoin

Rancho Santana Nicaragua

Cathie Wood’s Ethereum Price Prediction

The Winklevoss Twins’ Bitcoin Price Prediction