When it comes to Bitcoin, there are two schools of thought – those who believe that it’s a digital gold, and those who think of it as nothing more than a digital IOU. While the former group is happy to HODL their BTC, the latter is always on the lookout for ways to cash out.
For those in the latter group, physical Bitcoin may seem like a good way to cash out while still holding onto their Bitcoin. But is physical Bitcoin actually worth anything?.
The short answer is no, physical Bitcoin is not worth anything. While there are some limited exceptions, such as certain collector’s items, in general, physical Bitcoin has no value. The main reason for this is that physical Bitcoin does not actually represent any real underlying value.
Unlike fiat currency, which is backed by a government, or gold, which has industrial uses, there is nothing backing up Bitcoin other than itself. This means that there is no intrinsic value to physical Bitcoin – it’s only worth what someone is willing to pay for it.
Of course, this doesn’t mean that physical Bitcoin can’t have any value at all. If someone is willing to pay $10 for a physical Bitcoin, then that physical Bitcoin is worth $10 to them.
However, this value is entirely subjective and can change at any time. In other words, don’t expect to be able to cash out your physical Bitcoins for anything close to their original purchase price.
So, if you’re thinking about cashing out your BTC by buying physical Bitcoin, you may want to think again. While there’s nothing wrong with owning physical Bitcoin as a collector’s item or conversation starter, don’t expect it to be worth anything in the real world.