Re: US could run out of cash as soon as Dec. 15, Janet Yellen warns
So we also have record inflation on the cards not just in the US but in most of Europe, and large swathes of the global South.
Inflation, debt and defaulting of the world's biggest economy. That has got to be good for Bitcoin, no? Though I wonder if 100k usd next year is going to be as valuable as 100k usd now.
Inflation, debt and defaulting of the world's biggest economy. That has got to be good for Bitcoin, no? Though I wonder if 100k usd next year is going to be as valuable as 100k usd now.
This is good for Bitcoin, but bad for the global economy. Knowing that the USD is the reserve currency of the world, anything that affects its value (like inflation) will have a negative impact over other countries worldwide. This is not to my surprise, since the pandemic severely affected the American economy. Continuous government spending and money printing will only make matters worse in the long run. Crypto will be put to the test, as the current banking system nears the edge of collapse. Bitcoin "hodlers" will inevitably gain more purchasing power, as the cryptocurrency itself is the antithesis of inflation. Who knows if the decaying global economy opens a path for Bitcoin to become the world's next reserve currency? Just my thoughts
