WAGMIDEA 4 minutes reading from Bitcoin

Is #Bitcoin a Safe Haven Currency?

With inflation rising along with the strength of USD, is Bitcoin a safe haven asset?

Will 1 BTC be worth 10k, 100k, or is 1 BTC = 1 BTC?


Today, inflation across the globe is increasing, and the purchasing power of everyday folks is decreasing.

Even the GBP and EUR are rapidly depreciating against the USD, dropping about 15% since the start of the year on top of their 10% inflation!

In Europe, electricity prices have gone up by 5 times from the start of the year. If inflation remains high, people's spending power cannot keep up, and eventually, a recession will occur.

If a recession occurs, the government is likely to print money, which will further decrease purchasing power, and citizens may be forced to find other currencies like USD or Bitcoin to preserve their wealth.

Some would say that USD is the safe haven currency right now due to the rising strength of the dollar. But a recession will occur in the USA eventually, prompting them to print money and accelerate Bitcoin to be the decentralized safe haven currency of choice.

But governments will also try to prevent Bitcoin from taking over their own native currency as it weakens their power, so it's going to be an uphill battle for cryptocurrencies!

If you liked our Bitcoin series, stay tuned for our next comic where we will cover BTC as an asymmetric investment bet!

As always, remember to do your own research DYOR!

Speaking of accumulating Bitcoin, @saylor announced yesterday that @MicroStrategy purchased another 301 BTC at 19.8k.

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