People who enter the Bitcoin market often have only one thing on their mind; how this asset could potentially make them a lot of money. Many of these people live in the West and view Bitcoin only as an asset that they could potentially invest in. They have been extremely fortunate throughout their life that they’ve lived in a country whose financial situation was stable. They never needed to worry about inflation, corrupt governments stealing their wealth overnight, or even having financial currency limits placed on them.
People who live in other less fortunate places around the world instantly recognize how Bitcoin could be the tool that could change their lives. Not because it could make them rich, but because it would help prevent the value of their wealth from being inflated away overnight.
For these people, it is a matter of survival.
Unfortunately, the world is not a fair place. Some places in Africa, Europe, and South America have at times seen their national currency lose half its value overnight. Imagine working hard all of your life to try and finally get ahead. Retirement isn’t an option, but the dream is to have a little financial cushion. You worked hard for decades, only to see your purchasing power cut in half overnight. All because of the decision made by the government of your country.
People in the West had their first taste of this at the beginning of the year as they saw several banks either freeze funds, or actually collapse. It was the first time that people realized that they are trapped in the financial system and that the money in the bank isn’t theirs. This is when many people finally began to understand Bitcoin’s real value and use case.
During the summer another example of hyperinflation around the world took place and showed just how fragile fiat currency is. In Argentina, an underdog Presidential candidate came out ahead in the primary election and this caused the Argentinian Peso to drop by nearly 20% overnight. We have seen these types of price movements in cryptocurrency on a regular basis. But that is expected, as crypto is the most volatile asset on Earth. However, country fiat currencies are supposed to be much more stable. Currencies value that you can depend on. The fiat lie and how fragile they actually are is finally being exposed to the public.
People in these countries who didn’t have any Bitcoin, real estate, or investable assets are the ones who are hurt the most. Losing 20% of all of their wealth in mere hours. On the other hand, the people who had most of their wealth in Bitcoin will be unaffected.
Up until now, we haven’t seen this type of hyperinflation happen in the West, but you can be assured that it will come eventually. Look around the world, and you will begin to notice how deeply in debt many of the most powerful countries are. The dangerous game we are playing cannot be sustained for much longer. Right now the most influential country in the world, the US, has more than $30 trillion in debt. If the US were to stumble, it would be a very disastrous outcome for the rest of the world.
The key point is this. Very soon there will be a time in the West when Bitcoin isn’t only thought of as an investable asset. Instead, it will be thought of as an asset that protects your wealth and allows you to survive financially.
How about you? Have you ever experienced hyperinflation
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