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“At The Head Of All”: In The Future, All Currencies Will Be Pegged To Bitcoin - Binaryx

“At The Head Of All”: In The Future, All Currencies Will Be Pegged To Bitcoin

Just imagine, the American dollar is tied to Bitcoin, and every morning you start by looking at the rate of the flagship cryptocurrency because the movement of its price sets the tone for the global economy. We are not transported into a fantastic blockbuster – the author of “The Price of Tomorrow” is convinced that Bitcoin will lead all currencies. Promising predictions, isn’t it?

Will Bitcoin become a reserve currency?

A few days ago, an expert from Cambridge House International interviewed Jeff Booth, author of “The Price of Tomorrow” and co-founder of BuildDirect. During the conversation, Booth shared a forecast regarding the future of cryptocurrency and its role in the global financial market. He is sincerely convinced that in the future all currencies will be pegged to Bitcoin, and the flagship cryptocurrency will become the “money’s king”.

Now the government is trying to revive the value of the currency in our eyes. In conditions when global inflation is already on the threshold, it will be difficult to do this. I believe that Bitcoin will win in this game. As a result, all currencies will be pegged to the rate of the flagship cryptocurrency.

Booth is also convinced that digital technologies are deflationary and contribute to lower costs while improving the efficiency of financial infrastructure. In contrast to technological progress, there is the monetary policy of governments, the printing of money, which, on the contrary, provoked the appearance of inflation and a fall in the economy. This situation resembles a shawl of the scales, where Bitcoin will eventually gain the advantage.

Booth noted:

When there is a downturn in the economy, the monetary policy of governments is focused on lowering interest rates. But this, in turn, pushes up the price of real estate, stocks, and other assets. Ultimately, technology will defeat money printing. It is just a matter of time.

Bitcoin will not repeat the mistakes of Gold

Jeff Booth also touched on the topic of competition between Bitcoin and Gold in an interview. He drew an analogy with the events of World War II when refugees tried to take away the precious stone. To prevent their plan from being declassified, the refugees sewed pieces of gold into their clothes. They could not have predicted that this decision would turn out to be a tragedy for them: when crossing the river, many people drowned because of the weight of the gold in their clothes.

Today, there is no need to keep money “under the pillow” thanks to digital technology. Booth convinced:

If before, people were forced to hide their savings in the ground,“ under the pillow ”, in safes, now thanks to Bitcoin you only need to remember 10 words. You can move wherever you want and be sure that your capital is safe.

Booth is confident that the global financial system, led by Bitcoin, is a matter of time, and in the future, the flagship crypt will become a reserve currency. Well, expect.

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