Bitcoin

Standard

<p>As Bitcoin, the flagship cryptocurrency asset continues to garner support from leading figures in the industry, Chris Wood, the Chief strategist at Jefferies in a daring <a href="https://x.com/matthew_sigel/status/1808508318886826300" target="_blank" rel="noopener nofollow">statement</a> that might change people’s perceptions of digital currencies has suggested that the potential collapse of the United States Dollar Paper Standard could significantly benefit BTC holders in the nation.</p> 
<h2 id="bitcoin-owners-to-see-benefits-from-us-dollar-collapse">Bitcoin Owners To See Benefits From US Dollar Collapse</h2> 
<p>VanEck’s head of digital asset research, <a href="https://bitcoinist.com/solana-etf-launch-tied-2024-presidential-election/" target="_blank" rel="noopener ">Matthew Sigel, </a>shared the Jefferies strategist’s bold opinions on the X (formerly Twitter) platform on Wednesday in Chris Wood’s words.</p> 
<p>In the note to investors, Wood contended that a number of macroeconomic issues, such as aggressive monetary policies and rising debt levels, are posing an increasing risk to the US dollar’s long-standing dominance as the world’s major reserve currency, which might lead to more individuals adopting Bitcoin as a hedge fund.</p> 
<p>According to the chief strategist, Bitcoin was allocated due to its potential. This is because, in light of the mounting evidence of G7 currency devaluation strategies over the past two decades and more, the crypto asset offers a sound alternative for risk-averse capital seeking a store of value.</p> 
<p>Wood further noted that the collapse of the current <a href="https://bitcoinist.com/bitcoin-price-predicted-to-hit-10-million/" target="_blank" rel="noopener ">US dollar</a> paper standard is expected to result from this unconventional monetary policy if it is not removed in a responsible way. As a result, he argues that Bitcoin and gold owners might experience significant benefits, establishing them as major benefactors in a financial environment characterized by fiat currency volatility.</p> 
<p>The chief strategist has also addressed misconceptions regarding Bitcoin and gold as an investment, noting that investments in both assets should be viewed as insurance, rather than trades in the short term. He further added that with the current state of the world’s economy, this long-term portfolio aims to strike a balance between long-term risks and opportunities.</p> 
<h2 id="btc-s-uniqueness-sets-it-aside">BTC’s Uniqueness Sets It Aside</h2> 
<p>Overall, Wood’s perspective highlights a more widespread narrative among cryptocurrency supporters who see <a href="https://bitcoinist.com/bitcoin-activity-rebounds-signal-btc-turnaround/" target="_blank" rel="noopener ">Bitcoin</a> as a haven during an unfavorable economic climate. It also fits with the rising belief that digital currencies could provide a strong substitute to established financial systems, especially during inflationary pressures affecting fiat currencies.</p> 
<p>In contrast to conventional fiat currencies, Bitcoin is not influenced by government choices or central banks, as it functions on a decentralized network. Due to its independence and limited supply, BTC is positioned as a unique asset that can maintain value amidst dwindling trust in established financial systems.</p> 
<p>Bitcoin’s ability to serve as a hedge during challenging economic conditions is evident to the head of research at Fundstrat Tom Lee’s recent <a href="https://www.youtube.com/watch?v=o6RwsLU8yuc" target="_blank" rel="noopener nofollow">predictions</a>.&nbsp;Lee believes that the asset is capable of rising to the $150,000 price level in the upcoming months, citing a sharp rebound in the second half of this year. Meanwhile, the research head claims the <a href="https://bitcoinist.com/bitcoin-sideways-amid-fed-rate-uncertainty-is-a-liquidity-crunch-looming/" target="_blank" rel="noopener ">Fed</a> will find it difficult to continue its strict monetary policy in the long run during this period.</p> 
<img loading="lazy" decoding="async" class="size-large" src="https://www.tradingview.com/x/h8gKCrvH/" alt="Bitcoin" width="2283" height="1265">

Bitcoin To Benefit From Collapse Of US-Dollar Paper Standard – Jefferies Chief Strategist

Spis treści

Bitcoinist

Inne artykuły opublikowane 5 lip 2024

TEA Memecoin Brews 38,888 SOL During Its Groundbreaking Presale

Trade Dogecoin, Shiba Inu, Pepe And More With BitMEX Meme Coin Index MEMEMEXTUSDT

Price Analysis: Monero (XMR) Price Decreased More Than 5% Within 24 Hours

Don't Buy Meme Coins, Adam Back Says

Crypto: Ethereum Introduces EIP-7732 and Steps up the Pace!

A major crypto whale invests $120 million in Shiba Inu, PEPE, Ethereum

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!