Post
Topic
Board Bitcoin Discussion
Re: How can third-world countries counter inflation using bitcoin?
by
icalical
on 24/09/2023, 19:30:07 UTC
Bitcoin alongside other cryptocurrencies has aided the economic development of many countries.

I have never heard that any country has a significant macro economic development because of bitcoin, or in any way it's helped by Bitcoin. Sure that some people are helped by Bitcoin in all over the world, but it's that many, and it won't helped the macro economy in any country.

this has made people to turn to cryptocurrency like bitcoin an asset that maintain its value over time to hedge  against inflation.

Bitcoin is not a tool to hedge against inflation, though it's decentralized and hardly/won't be manipulated by central bank it's still currently has high volatility, it's barely maintain it's value. And even if it can counter inflation, it won't be enough to help to develop economic in a country, it's too complicated, too many factors.