Dollar devaluation, bitcoin doing well:
Bitcoin and gold are used more by the investors as a hedge against the price rise as the giant companies and the Federal Reserve are encouraging them.
Mark Yusko, the founder, and CEO of investment firm Morgan Creek Capital Management, marked in his statement.
Yusko targeted giant companies that want bailouts at financial stress to work regularly, called as “Ponzi finance scheme”. For devaluing the currency, the Federal Reserve left with the only option is their inability to repay the debt, default, or restructure.
U.S. central bank has been doing the same, along with Europe and Japan central banks. And they're going to continue it regularly. Resulted, bitcoin (BTC, +3.28%) and gold doing “extremely well,” according to Yusko. “Before your eyes, your wealth got stolen.
Money devalued. Stocks are rising over the last three years, up to 6% a year but wen denominated to gold as compared to dollars it will go down to 44% and when it comes to the denominator in bitcoins, it will be the worse scenario.
The devaluation of dollars gave the way to bitcoin, an electronic currency equivalent to real money, it is digital and interests investors more than the rest of the world. There are many ups and downs in the prices of bitcoin over the last few years but recently it touched the $18,000 mark and recorded as a high price on December 19.
Now the situation is worse due to the covid19 pandemic, debts continue to rise and the government is burdened with obligation. It is costing huge money to repay debts. Some are working for it and some are in default to repay debts. Many economists say prices will rise but some of the experts and analysts expect the prices will go down.
The prices depend upon the investment, investors like to spend more on what.
Crypto Business World
CBW - External Analyst