Bitcoin may benefit as IMF head calls for new “Bretton Woods” agreement

Bitcoin may be a beneficiary of a new monetary world order. The established financial system is under a tremendous amount of strain, and trillions of dollars have been created over the course of 2020. Additionally, most governments are running massive deficits, which is unlikely to end anytime soon. The new managing managing director of the IMF, Kristalina Georgieva, thinks that drastic action may need to be taken.

She commented,

“Today we face a new Bretton Woods “moment.” A pandemic that has already cost more than a million lives. An economic calamity that will make the world economy 4.4 % smaller this year and strip an estimated $11 trillion of output by next year. And untold human desperation in the face of huge disruption and rising poverty for the first time in decades.”

Why it matters?