Don’t Blindly Trust That Bitcoin Is Sound Money, Verify by Yourself All the TimeDo the maths, and run the numbers.
The U.S. dollar is weak money. This assertion could have made many people jump to their feet just two years ago. Yet in 2020, more and more people are realizing that the U.S. dollar is getting weaker and weaker.
To convince yourself of this, just look at the level of the DXY (Dollar Index).
The DXY has been falling steadily since March 2020 and the Fed’s intervention to support the U.S. economy. The $3 trillion printed out of thin air and the increase in the U.S. public debt to over $26.7 trillion have further undermined the world’s confidence in the global reserve currency.The U.S. dollar has been steadily losing value for several decades
On closer inspection, this collapse in the value of the U.S. dollar is not new. Take a step back to look at the evolution of $1,000 in purchasing power since 1971, and you will understand that the U.S. dollar has been weakening continuously for years.
The purchasing power of $1,000 in 1971 doesn’t even represent $150 in 2020. This fall in the value of the U.S. dollar will accelerate even more in the months and years to come because of the great monetary inflation that we are experiencing.
The U.S. dollar is therefore a weak currency. The worst thing is that it is the world’s reserve currency. This gives you an idea of where the other fiat currencies stand. There isn’t one to catch up with the other.
As opposed to the U.S. dollar, you have the Bitcoin that I talk about all the time in my stories.
Bitcoin is sound money. Bitcoin is the hardest money in the world.Bitcoin is sound money, and you must verify by yourself this assertion
I don’t ask you to take my word for it. It would be a mistake for you to believe that Bitcoin is sound money just because a Bitcoiner tells you so.
Bitcoin gives you complete power. This implies that it allow...