Is Bitcoin an investment tool exclusively for the 'middle class and above'?

That's a great question, and it's a common misconception. My view is: Technically and operationally, absolutely not. But from a risk and mindset perspective, it's indeed more suited for those with a certain financial foundation.

Let's break it down for clarity:

Why is it "not" exclusive to the wealthy?

1. You can buy "a small piece," not "a whole one." This is the biggest misconception. When people hear the news that one Bitcoin costs hundreds of thousands of RMB, they think, "How can ordinary people afford that?" But in reality, you don't need to buy a whole one. Bitcoin can be divided into very, very small units. The smallest is called a "Satoshi," and 1 Bitcoin equals 100 million Satoshis.

   To draw an analogy, it's like buying gold. You don't have to buy a whole large gold bar; you can buy just 1 gram, or even 0.1 gram. Buying Bitcoin is the same; you can absolutely spend just 100 or 500 yuan to buy a tiny fraction of Bitcoin worth that amount. From this perspective, the entry barrier is even lower than buying shares in many companies.

2. "Dollar-cost averaging" is how ordinary people play. Many experienced investors, especially ordinary wage earners, don't just throw in a large sum of money all at once. They adopt a strategy called "dollar-cost averaging." For example, after getting paid each month, they consistently set aside 500 yuan to buy Bitcoin, regardless of whether the price is high or low at that moment. Sticking to this long-term can average out costs and reduce the risk of buying a large amount at a peak. This method requires very little cash flow and is well-suited for ordinary people.

So why is it "more suitable" for the middle class and above?

This isn't about "affording to buy," but rather "affording to lose" and "being able to hold on."

1. The core is "risk tolerance." Bitcoin's price volatility is extremely high; a 10% fluctuation in a day is common, and in extreme cases, it can even halve in a single day. What does this mean?

   • For a middle-class family, if they invest 5% of their total assets (e.g., 100,000 yuan) in Bitcoin, even if that money temporarily loses 50% and becomes 50,000, they'll feel the pinch, but it won't affect their mortgage, car payments, or children's schooling next month. Their basic livelihood remains stable.
   • However, for an ordinary working-class family, if they save 50,000 yuan through frugality and invest 30,000 of it, a 50% loss could mean a significant drop in their quality of life for the next six months, or even impact their family's emergency savings.

   Simply put, it's about "investing with spare money." The middle class and above have more "spare money"; they can afford to lose it, so they are mentally better equipped to handle such roller-coaster-like volatility. For ordinary people, that money might be "hard-earned savings," and a significant loss can be a huge blow to their psyche and life.

2. Differences in knowledge and information access. Investing in Bitcoin isn't as simple as just clicking "buy." You need to understand the underlying technology, the macroeconomic environment (e.g., Fed interest rate hikes/cuts), industry news, regulatory policies, and so on. People in the middle class and above usually have more time, energy, and resources to learn this knowledge, or they have access to more professional analysis. Ordinary people, busy with work and life every day, might not have as much energy to delve deep into research, making them more susceptible to market euphoria, chasing highs and selling lows, ultimately becoming "chives" (a common metaphor for retail investors who are repeatedly harvested).

To summarize

From an entry barrier perspective, Bitcoin is very accessible; you can participate with just tens or hundreds of yuan, so it's definitely not "exclusive to the rich."

However, due to its extremely high risk and knowledge barrier, it is a tool that demands very high "risk tolerance" and "learning ability" from investors. Only those who can withstand significant volatility and are willing to spend time researching are better suited to participate.

Therefore, rather than calling it a tool for a specific "class," it's more accurate to say it's a tool that screens investors based on their mindset and knowledge. The key isn't how much money you have in your bank account, but whether the money you're willing to invest is "spare money" that wouldn't affect your normal life even if it went to zero.