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Alternative explanations: 1. BTC is a proxy for gold and greatly relieves pressure on gold prices and the money-center banks and sovereigns accumulating/tradin
by howmayiannoyyou 6y ago
Alternative explanations:
1. BTC is a proxy for gold and greatly relieves pressure on gold prices and the money-center banks and sovereigns accumulating/trading gold.
2. BTC circumvents capital controls in countries where those with the power to stop BTC are using it move funds into free market economies; and those free market economies are happy to see the outflows from adversarial regimes.
3. BTC (and crypto in general) expands global liquidity without the need to print even more USD/EUR/RMB.
4. A failure/crash of BTC - should it occur - would result in a flight to USD/US Treasuries and the like. If you're looking for a possible conspiratorial outcome - look here.
5. Massive money supply growth has laid bare the need for an alternative currency, and even USGOV/EU/CCP recognizes the need.