I don’t always trade stocks, but when I do, I prefer to measure their performance in Bitcoin. Like many other Bitcoiners, I’m now at the point where I’ve started to think about my finances primarily in terms of Bitcoin, not in any fiat currency. It’s time for Bitcoin as unit of account in Robinhood.
Robinhood has long been at the forefront of stock trading innovation — it brought on millions of young traders and investors over the last several years, in large part simply because it’s a user-friendly interface that makes trading stocks easy for the average smartphone user.
Since Robinhood launched with its many innovations, which certainly do go beyond simple UX improvements ($0 trade fees were a big thing, too), most of the classic players have copied most of its differentiators making them no longer as compelling.
Staying at the forefront of asset trading, Robinhood launched Robinhood Crypto several years ago to allow users to own and trade cryptocurrencies such as Bitcoin, Ethereum, and more. That’s great, but what if you have so much of your net worth in these assets that you prefer to use them to measure all the other assets you own?
I think Robinhood should stay at the forefront of the stock trading game by making it possible to change your unit of account in the app to other assets, including Bitcoin or Ethereum. Personally, I’m a Bitcoiner, so I’d really love to see how my stocks are performing in terms of BTC.