Okay, So let's start with the impact of the COVID-19 pandemic on the global economy. The pandemic has caused unprecedented disruptions to businesses and supply chains around the world, leading to widespread unemployment and economic contraction. In response, governments around the world have implemented massive stimulus packages to support individuals and businesses, which have led to concerns about inflation and currency devaluation.
one potential solution that has been suggested by some is investing in Bitcoin and other cryptocurrencies as a hedge against inflation and a store of value in uncertain times like this. What do you think about this idea? Do you believe that cryptocurrencies are a reliable safe haven asset?
Cryptocurrencies have had a major impact on cryptocurrencies due to the Corona virus, but currently cryptocurrencies have been able to recover somewhat from that impact. Due to the coronavirus, the global economy including cryptocurrencies had a huge impact and strict measures like lock down were taken all over the world, resulting in a huge negative impact on the global economy.
There are several political, economic and social issues in the cryptocurrency market including Bitcoin that can have a huge impact on the market, the current military war between Ukraine and Russia is having a huge impact on the economy. On the one hand, conflicting relations between Russia and the rest of the world are being created, and on the other hand, if the business relations of other countries with Russia are deteriorating, the global economy will be greatly affected.
It is not possible to say with certainty how much of these problems can be avoided by investing in Bitcoin. But in terms of my country, investing in bitcoins can certainly be a little bit immune to the effects of inflation in my country. But of course I will say one thing that Bitcoin is a virtual currency over which no individual, central bank, government system, and no global organization has control. Bitcoin has been legalized by the government of various countries, especially Salvador, as well as providing education on Bitcoin for the citizens of that country. Investors from different countries of the world are now giving importance to investing in Bitcoin than keeping money in the bank. Because Bitcoin wants to make people free.