{"id":418560,"date":"2020-03-18T21:00:57","date_gmt":"2020-03-18T21:00:57","guid":{"rendered":"https:\/\/uniquehot.com\/?p=418560"},"modified":"2020-03-18T16:15:49","modified_gmt":"2020-03-18T16:15:49","slug":"economist-government-overspending-bitcoin","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/economist-government-overspending-bitcoin\/","title":{"rendered":"Economist: Government Overspending Amidst Crisis is Bullish for Bitcoin"},"content":{"rendered":"

With each passing day, the global government is revealing more and more economic stimulus and bailout budgets to prevent further collapse of the economy<\/a> and save corporations critical to civilization as we know it. <\/span>But the more the government overspends, the more bullish the case for Bitcoin<\/a> \u2013 an asset that\u2019s value could climb significantly if inflation continues to spiral out of control.<\/span><\/p>\n

Bitcoin To See Major Boost During Coming Dollar Inflation<\/h2>\n
Bitcoin<\/a> is an asset unlike anything else. It can be used as a currency for transactions like the dollar and has been pitched as someday replacing fiat currencies as the global reserve currency.<\/span><\/p>\n
However, the asset also shares many attributes that are more akin to a precious metal like gold than a currency like the dollar.<\/span><\/p>\n
Related Reading | How Bitcoin Is the Answer to The Questions Everyone Should Be Asking Ahead of Crisis\u00a0<\/a><\/strong><\/em><\/p>\n
Fiat currencies can be printed at whim, as we\u2019ve seen recently as the government scrambles to ease the impact of any lasting economic recession that follows the coronavirus pandemic.<\/span><\/p>\n
Because Bitcoin, like gold and other precious metals<\/a>, has a limit to its supply, the asset has a deflationary attribute that is completely unlike fiat currencies.<\/span><\/p>\n
It\u2019s this attribute that presents a wildly bullish case for the first-ever cryptocurrency designed by Satoshi Nakamoto in the face of increasing government overspending, according to one well-known economist, Alex Kruger.<\/span><\/p>\n
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The same people ardently criticize governments' economic aid packages. Such an irony, as those packages are bullish for the price of bitcoin in both the short and long term. In theory, the best case scenario for $BTC<\/a> is a world were governments overspend and lose control.<\/p>\n
— Alex Kr\u00fcger (@krugermacro) March 17, 2020<\/a><\/p><\/blockquote>\n