Bloomberg criticize US dollars as government injects trillions in economy
An opinion piece in Bloomberg argues that money is losing its meaning. However, it makes no mention of the elephant in the room: Bitcoin.
After all these years of spreading FUD over crypto, Bloomberg may have just made the best possible case for it.
Bloomberg has published an article entitled “Money Is Losing Its Meaning”. It contains one of the best reasons for every investor to switch to Bitcoin. According to journalists, the injection of trillions of dollars into the economy by global governments can seriously undermine people’s trust in currencies.
According to Bloomberg, the twelve largest economies in the world have at least doubled since the 2008 crisis to an impressive $80 trillion.
“This figure is so large that it is already meaningless. It’s just an abstraction. Quite a long time ago, people stopped thinking about the concept of money and its purpose. The dollar has no real value, it is supported only by faith in the United States and the debt obligations of the American government.”
Printing new money always leads to inflation. Now that the intensity of a pandemic is slowly dropping, many people are asking the main question: how strong will inflation be in the US and the rest of the world? Could the American economy collapse like that of Venezuela?
“Money is a unit of account, a means of exchange and a means of saving capital.”
So far, the US dollar is rapidly losing ground in a third one. The currency is depreciating, so it’s not very profitable to keep savings in it right now. That is why investors will need “more reliable” assets — precious metals and, of course, cryptocurrencies. Bitcoin and gold cannot be “reprinted” if necessary, i.e. their maximum quantity is limited. And that, among other advantages, makes crypto attractive in the eyes of ordinary people.
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