Bitcoin, the fire alarm of a declining society? Fiat currencies have something to tremble

Bitcoin, the black swan of fiat currencies? – Bitcoin is often compared to a new digital version of that good old gold that has been a monetary standard for millennia. These 2 safe havens actually have in common that they are excellent markers of the state of the world economy. And the latter is – you can already imagine – in absolutely deplorable condition.

The US dollar soon to be the victim of the hyperinflation of the Weimar mark?

Financial Times reporter Rana Foroohar recently published an op-ed titled „Bitcoin’s Rise Reflects America’s Decline . “

In particular, she takes up the conclusions of Luke Gromen of the Tree Rings fund, who examined the relationship between the price of gold under the German mark of the Weimar Republic and of Bitcoin Millionaire under the US dollar .

His conclusion is clear: the dramatic rise in the price of BTC should be taken as a warning warning of big changes:

“Bitcoin is the last working fire alarm. „

The finding is indeed serious for the United States. The Federal Bank (Fed) was just starting to stabilize its massive monetary impressions, initiated over a decade ago to stem the 2008 economic crisis, as the stimulus needs following the Coronavirus crisis are pointing their noses.

If the abysmal US debt (roughly $ 28 trillion ) were to continue to grow with the printing press, then “Bitcoin could be a safe haven” as the analyst puts it.

The end of the American empire favorable to Bitcoin?

In a world where the power of the United States is lessened by that of China and Europe, the euro and the renminbi are seen as alternative stores of value to the dollar.

But Bitcoin and cryptocurrencies might have even better potential in this role, as they are not subject to a country’s monetary policies.