Bitcoin Price Growth Makes Sense: It Is a Safe Haven

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Bitcoin Price Growth Makes Sense: It Is a Safe HavenHistorically, in every inflationary context, when a national currency becomes unstable, the people depending on that money look for alternatives. From Germany, to Zimbabwe, to Argentina, when hyperinflation appeared, people found it necessary to immediately convert from the given broken currency to something more stable. And that’s why I say Bitcoin price growth makes sense: it is a safe haven.

Bitcoin represents the first liquid opportunity people have ever had, on a global basis, to quickly convert assets from depreciating government currencies, to an appreciating private currency. What we are seeing isn’t a “bubble” (and I cringe every time I see that reference); what we are seeing is the beginning of a world that is waking up.

The United States government claims inflation isn’t a problem, and yet in recent decades, it has suspiciously decided to remove food and energy from its calculation. It doesn’t require the proclamations of a Nobel Laureate to see that commodity prices have exploded since the global implementation of quantitative easing — which began in 2008.

The world has been given an alternative. Why is it so strange to think that early adopters are eager to preserve their wealth?

You can argue that Bitcoin is “due” for a crash. And maybe it will crash again — just like it has before. But that doesn’t change the validity of my argument. I am absolutely convinced Bitcoin will continue to make new highs as it marches to ultimate stability — as it assumes its role as the world’s new reserve currency.

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