THE ECONOMIST: BITCOIN WILL SOON RIVAL WORLD CURRENCIES!
One leading economist testified that Bitcoin could soon rival titular currencies.
Over the past years, even leading central banks such as the Federal Reserve have failed to keep inflation rates stable and stable. Although cryptocurrencies were not initially seen as a danger to central banks or economists, the danger they posed was noticed by the introduction of stablecoins and the introduction of projects such as Libra.
Bitcoin Block Prize Could Boost Competition
The fact that bitcoin (BTC) in particular has risen in value just like gold due to socio-economic events has been proof that it is considered a safe asset by investors. In addition, Bitcoin's halving, which will take place in the coming months, could reduce the number of BTC that can be dug up and boost demand more than ever.
Peter C., economist at the American Institute for Economic Research Earle, on the other hand, touched on bitcoin's block prize split in his last post. Bitcoin's block prize will fall from 12.5 BTC to 6.25 BTC, which will result in miners being able to offer fewer BTC to the market. Declining Bitcoin and the failure of central banks to stabilise, according to Earle, will cause people to attack BTC and scramble to get the remaining BTC.
In fact, looking at countries that do not have stability and confidence in their reputational currencies, it is possible to see the volume of Bitcoin consistently breaking records. Especially in Venezuela, Argentina and a few countries in Africa, bitcoin trade volume is observed to break new records almost every week. Only that even means Bitcoin could also cause trouble to truly world-leading titular currencies in the coming years. In addition, similar initiatives of Bakkt's consumer-oriented applications could significantly increase adaptation.