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Eric Siu argues Bitcoin protects purchasing power against inflation as decentralized sound money. Unlike physical gold, it has no custody or portability friction, making it a more accessible savings technology.
Eric Siu argues Bitcoin protects purchasing power against inflation as decentralized sound money. Unlike physical gold, it has no custody or portability friction, making it a more accessible savings technology.
50% of Americans just hold cash. They live paycheck to paycheck. Every single dollar to their name sits in a bank account somewhere. So when we have inflation, even at just officially 2%, it eats away at the purchasing power of the 50% that just has cash. Bitcoin and the promise of a decentralized digital currency that is not debasable, cannot be seized, and also is not controlled by anyone, is that it can protect your purchasing power. If it is able to protect your purchasing power over long periods of time, you now have essentially created the ultimate savings technology. Something like gold historically has served like this, but there's a lot of friction to being able to buy gold, right? There's physical gold, you've got to be able to custody it, you have to be able to source it, it's heavy, it's not portable, there's all these issues with it, but something like Bitcoin in a digital form provides that same sound money principles.
