It is not Bitcoin Rising but Fiat Currencies Falling

It is not Bitcoin Rising but Fiat Currencies Falling

According to Stefan Molyneux, a well-known Canadian leader, it is essential to acknowledge free-fall in exchange rates, and especially to recognize the exponential growth rate of BTC.

Molyneux says: “It's not so much that Bitcoin is going through the roof - it's that fiat currencies are in free fall, but only Bitcoin is noticing.”

Our top trading bots

Falling currencies

For many decades, governments had absolute control over the global financial sector and monetary policy through the currency system. Due to this, the US Federal Reserve had the opportunity to inflate the offer of reserve currencies and manipulate the most widely used form of money in the world.

In the interview with Fox Business, significant electronics retailer Overstock CEO Patrick Byrne said that in the next few years fiat currencies will continue to fall as investors and the market are moving to decentralized money and the state.

The lower exchange rates are the only form of decentralized currency. Bitcoin and other cryptocurrencies on the market will eventually overtake reserve currency.

“You think that’s a bubble? What do you think that fiat currency you carry around in your purse is? This dollar stuff, it’s just some fiat currency based on … the surplus taxing authority of the US Treasury of which I assert there is zero ... It’s about time the world switches to real money. Either gold or Bitcoin,” said, Byrne.

Currently, two forms of money or assets are not subject to control and manipulation by governments - Bitcoin and gold. As Indian government demonstrated at the end of 2016, gold can be confiscated and returned to authorities at their request, due to the physical characteristics.

BTC confiscation of users’ funds and assets is not possible when users store them on the platform that does not relate to a deprivation of their rights, and they have full control over private keys and funds.

One of the main advantages of Bitcoin over gold is transportability. Gold is a viable store of value, given that investors can store a vast amount of money in the asset. However, the gold pass is difficult especially abroad.

Bitcoin will continue to evolve as the fall of fiat currencies

Considering that Bitcoin is the only viable alternative to fiat currencies, the decline of government-issued money will continue to bring more investors and ordinary consumers into the BTC market.

Thus, Byrne noted that the price of Bitcoin could reach $1 million in the long run. It will surpass the reserve currencies and challenge the gold market.

Byrne noted that the price of Bitcoin could reach $1 million in the long run. It will surpass the reserve currencies and challenge the gold market.

“We have all these currencies since Bretton Woods, fluctuating against each other, and maybe the dollar hasn’t gone to zero against these currencies, but all of them have gone down 95 percent ... versus something that they can’t control like … gold and Bitcoin. So Bitcoin may be on its way to a million for all we know,” adds Byrne.

Launch of real-world use-case sparks 162% rise in OriginTrail's TRAC token
The global supply chain continues to struggle to get back on track following a tumultuous three years that have witnessed clogged shipping ports and a breakdown...
Crypto investors face more uncertainty after rocky start to 2022
By John McCrankNEW YORK (Reuters) -Investors are bracing for more gyrations in bitcoin and other cryptocurrencies, as worries over a hawkish Federal Reserve...
Meta joins patent alliance, pledges free crypto patents for all
The Crypto Open Patent Alliance (COPA) has welcomed Meta as a member, with the social media giants vowing to make its core crypto patents accessible to...
Google Cloud ramps up blockchain efforts by launching digital assets team
Blockchain, cryptocurrency and decentralized technology are all fascinating topics that have been heating up for almost a decade. Nowadays, everyone wants...
Price analysis 12/20: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE
Bitcoin (BTC) continues to lose ground in December, a signal that traders may be locking in their gains before the end of the year. The lack of a Santa...
Crypto market eyes recovery ahead of key US inflation data release
Growing inflation has become a mounting concern for nations around the world, especially the United States. The U.S. has seen one of the sharpest rises...
Elliptic raises $60M to advance crypto analytics service
Cryptocurrency risk management firm Elliptic has announced a $60 million Series C funding round led by Evolution Equity Partners and supported by a panoply...
Nigeria's securities regulator establishes fintech unit to study crypto
In 2021, financial institutions operating in Nigeria have been the lever of a government crackdown on cryptocurrencies, beginning with February’s notorious...
COIN price fails to impress as more crypto firms are eager to go public
2021 has been a rollercoaster year for the crypto industry, with Bitcoin (BTC) scaling up to an all-time high of $65,000 earlier this year in April, only...
Digital currency may be an answer to help the unbanked, Sen. Warren says
Senator and former United States presidential candidate Elizabeth Warren believes that the digital asset industry may be a tool to tackle some challenges...
Powered by the people: 3 altcoins whose tweet volume spiked before a strong rally
On Crypto Twitter, a surge of attention directed at a coin often comes in response to dramatic price action. Quite naturally, rallying assets attract the...
EOS Climbs 11% In Rally
Investing.com - EOS was trading at $4.3502 by 22:33 (02:33 GMT) on the Investing.com Index on Monday, up 11.27% on the day. It was the largest one-day percentage...
Data fails to conclude that Bitfinex shorts are depressing Bitcoin price
One of the most common errors traders make when analyzing cryptocurrency markets is taking an exchanges' bid and ask data and traded volumes at face value....
Wen Doggcoin? Snoop Dogg hints at future token offering
Dogecoin (DOGE) proponent and media personality Snoop Dogg has said he hopes to release his own cryptocurrency in the future.In a Vanity Fair interview...
NFL Players Inquire More About Bitcoin, Says Football Star Richard Sherman
Within the past years, bitcoin has been a buzzword for its incredible soarings as well as plunges. Last year, it attracted the attention of the masses...