Cameron Winklevoss, known as one of the Winklevoss twins, recently talked about how powerful Bitcoin is a disruptive tool and how it can benefit people. He used his Twitter profile to highlight a study made by Max Raskin. The study affirms that Bitcoin can impact governmental policies by providing healthy checks and balances.
The context of the tweet was, obviously, the looming recession and the U. S.-China Trade War. Most people are afraid of what is going to happen soon, so they look at crypto when they want a safe haven asset that can help to store value when everything is losing it.
According to the study, private digital currencies can be a great way to improve citizen welfare. They can also be used, as they have been, to encourage localized investments.
The study also shows that private currencies can help people to diversify their money, which will help them when they need to face an economic crisis. It was also affirmed that the combination of diversification with a disciplined monetary policy can really encourage people to invest more locally. The government gets its share via taxations, so it is a win-win situation for all.
Winklevoss did not name any countries, but it is not hard to see many which are using Bitcoin as a way to save the value. Turkey, Venezuela, and Argentina, for instance, are all using it because they are facing high inflation.
Hong Kong investors, too, are very concerned with the local protests and the whole political situation, so they are investing in the asset as well as a way to secure their money.
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