Bitcoin Fixes The Broken Savings Model
When new money is created so often and on such a large scale, its value decreases dramatically over time. This destroys any incentive for someone to save their money.
April 8, 2020
In 2008, Bitcoin was introduced as an alternative network to our current financial system. Bitcoin challenges us to rethink everything we know about banking, monetary policy, and the institutions we’ve relied on to manage those aspects of our lives.
12 years later, Bitcoin is now more than just an idea, it’s beginning to establish its presence in the world economy and our daily lives.
When new money is created so often and on such a large scale, its value decreases dramatically over time. This destroys any incentive for someone to save their money.
Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said Sunday night on 60 Minutes that “there is an infinite amount of cash in the Federal Reserve.
In extreme market conditions no asset is immune to risk, even those we traditionally look to for safety, such as precious metals and bitcoin.