The market speculation that is Bitcoin has risen to prominence for a variety of reasons, but it’s not unreasonable to say that the dollar, euro, yen, pound, yuan (or name your county’s currency) have served as the cryptocurrency’s greatest publicists. Owing to rising skepticism about government-issued “fiat” money, Bitcoin has had much more than its day in the sun.
On the supposition that government monetary authorities can no longer be trusted to credibly oversee their currencies, Bitcoin has been viewed as a replacement. Since total supply of the cryptocurrency is limited such that its issuer can’t “print” more of the private money form, supposedly Bitcoin is the ultimate inflation hedge. Or so it’s been said, or thought.
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