An early bitcoin investor explains what most people get wrong about the cryptocurrency

Jeffrey Wernick is an independent investor whose portfolio includes early holdings in Uber and Airbnb. Wernick was also an early investor in bitcoin. He started buying it in 2009, the year it was created. Wernick says that people misunderstand bitcoin because it is often explained as a payment mechanism instead of as a store of value. He thinks many investors ignore the philosophy behind it. Wernick calls bitcoin is a "people's money." He sees cryptocurrency as the only way to object to a financial system which he believes is responsible for the growing wealth inequality in America.