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This is a low quality article. > Unless you’re living under a rock, you’d probably know that the central banks have been releasing stimulus packages to help th
by MrPowers 6y ago
This is a low quality article.
> Unless you’re living under a rock, you’d probably know that the central banks have been releasing stimulus packages to help those suffering from the pandemic
Federal governments run stimulus programs, not central banks
> the U.S. dollar is collapsing at an unprecedented rate
The USD isn't collapsing vs any major currencies at the moment. USD has strengthened against major currencies over the last 10 years.
> With only 21 million Bitcoins available and the last one to be mined by 2140, people have realized that it's a deflationary asset at its core
Do Bitcoin enthusiasts consider deflation a good thing? Economists generally consider low, consistent inflation good. The US had several deflationary periods when the gold standard was used and they sucked.
> The price of Bitcoin won’t increase irrationally once its supply ends.
No idea what this means.
> Therefore, investing in Bitcoin might just be the best way to counter the weakening dollar — which has led to the current buying spree.
Dollar has been strengthening. Something else is causing Bitcoin to rise.
- beaner 6y agoThat the dollar is strengthening relative to other currencies does not mean it is strengthening generally. It is falling relative to assets. It is losing purchasing power. By holding it you get slowly poorer over time.
- cma 6y ago> > With only 21 million Bitcoins available and the last one to be mined by 2140, people have realized that it's a deflationary asset at its core Plus that whole awkward time it forked into an additional currency, bitcoin cash, worth 10% or so of the main thing for a while. And with bitcoin gold to a lesser extent.
- muzika 6y agoThe dollar has been weakening relative to other currencies since April. See the DXY chart.