Banks Meltdown Propelling The Term Smart Money Which Bitcoin Represents
First quarter of the year we witnessed a great deal of bank collapse which is passing a wrong signals that the monetary system can’t be trusted, the bitcoin evangelist and also a bitcoin with he’s firm accumulation of the king crypto bitcoin says that the fail of the current monetary system is pushing investors towards smart money which he refers bitcoin has one.
The lose of confidence on the existing monetary system which he said has made the likes of Gold and bitcoin more attractive to investors. In he’s recent interview which he says that If you lose confidence in the currency, the banks, then you lose confidence in fiat currency as money. And therefore the money is dying. It’s obviously dying in Venezuela, it’s obviously dying in Argentina. But it’s dying everywhere in the world even in the United States and in Western Europe.
So when you lose confidence in the money then you start thinking about commodity monies. If I can’t trust the bank, if I can’t move the money cross-border and if the currency is losing value every year or every month, then I start thinking about commodity monies.
In comparison statement which he says that he will chose bitcoin over gold anytime, anyday reason been that it’s cheap and not expensive to maintain.
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