RATE Group | With So Much Debt Around, Investors Need Bitcoin as a Reflation Hedge
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With So Much Debt Around, Investors Need Bitcoin as a Reflation Hedge

20 Dec With So Much Debt Around, Investors Need Bitcoin as a Reflation Hedge

Posted at 21:08h in Bitcoin News by

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This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Ari Paul is CIO and managing partner of BlockTower, an investment firm.

Cryptocurrency has many value propositions, including censorship resistance, seizure resistance, and global coordination without middlemen. Until recently, one value proposition seemed largely hypothetical – depreciation resistance (that is, a store of value immune to inflationary money printing at the whim of central bankers or politicians). While bitcoin fans have long noted how fiat is devalued over time, bitcoin often appeared like a solution in search of a problem in this regard. With minimal inflation in the developed world over the past decade, most people were quite content to hold USD or EUR or JPY. When Argentines sought to escape their severely inflationary peso, they were happy to store their wealth in relatively stable USD. In 2019, we saw the emergence…

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