Why Cryptocurrency Is More Than a Hedge Against US Dollar Inflation
Cryptocurrency16 hours ago (Aug 16, 2020 03:20PM ET)
Why Cryptocurrency Is More Than a Hedge Against US Dollar Inflation
During times of international economic crisis, governments print money. This leads to inflation and investors subsequently stashing their investment capital in long-term, stable investments. Historically, that has meant gold, but in the current economic crisis, gold has been joined by another long-term store of value: Bitcoin (BTC).
There are several good reasons for this. The United States Federal Reserve is handling the crisis terribly, and has responded to soaring unemployment numbers in the same way they always do: by printing money. Already, the dollar has lost 5% of its value, with predictions that this is only the beginning. The currency is expected to shed up to 20% in the next few years, according to analysts at Goldman.
Why Cryptocurrency Is More Than a Hedge Against US Dollar Inflation
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