Published
3 years ago on
August 14, 2020
- Pantera capital recently released its monthly report.
- But the takeaway was that they said if people want to protect their wealth, they should get out of Fiat money.
Pantera Capital, one of the biggest crypto investment and blockchain technology companies in the world recently released its monthly report with some very good points raised. But the takeaway from this report was that they said if people want to protect their wealth, they should get out of Fiat money.
“Stay long crypto until schools/daycare open. Until then the economy won’t function and money will be continuously printed.”
The report highlights the mass of debt in the United States given the pandemic of COVID-19 taking over the world and collapsing the world's economies.
“The United States printed more money in June than in the first two centuries after its founding. Last month, the US budget deficit-864 billion-was larger than the total debt incurred from 1776 through the end of 1979.”
When it comes to bitcoin and other cryptocurrencies, there is no inflation and with this, there is no need for inflation-adjusted numbers.
Looking outside of bitcoin now, gold is another valuable resource that could also be seen as a good store value.
One well-known heater of cryptocurrency, Peter Schiff has recently said that the US dollar isn’t just going to go down but it is in fact going to crash. If this was to happen, the world reserve currency would need to change to something significantly stable and reliable.
Do you agree with the Pantera capital report? Let us know on Twitter!
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!
