Bitcoin Gains Ultimate Attention as USD has Failed as Savings Tech
A bitcoin supporter Pierre Rochard has said that the US Dollar has become completely unusable as a savings technology.
Pierre Rochard has made this statement about the US dollar on twitter account and also says that everyone should immediately invest or consume their currencies.
Due to inflation the USD has become completely unusable as a savings technology, everyone has to immediately invest or consume.
— Pierre Rochard (@pierre_rochard) November 12, 2019
He has made such a statement about the US dollar because he believes that nowadays fiat currencies have almost lost their value.
Bitcoin Community agrees with this statement
This statement of Pierre Rochard has brought out awareness in the bitcoin community for the support of cryptocurrency. And the bitcoin community has agreed with this statement. The reason behind this is that most people are disappointed with the fiat currencies.
Replying to Rochard, Joey said that it is even better to accept your wage in consumption tokens and everything else is unsavory and illegal.
Even better: it's basically mandated that you accept your wage in consumption tokens, anything else is viewed as "unsavory" or "illegal".
— Joey (@JoeyTweeets) November 12, 2019
Another bitcoin supporter, BitcoinTina has also commented on this statement and said that if you do not put your money to work then it will become worthless with the passage of time.
How often have people heard the phrase "you have to put your money (FIAT) to work!" That's because it will be worth less over time if you don't.,
Everyone knows this. – This is not news!#bitcoin.- guess what your money can be money and work for you!
— BitcoinTina☣️- "TINA" (There is no Alternative) (@BitcoinTina) November 12, 2019
US Dollar has lost much of its value due to inflation
It is a bitter reality that over the last hundred years the US dollar has lost much of its value and its value continues to decrease day by day.
This can be seen in the chart which represents the loss in the purchasing power of USD during the last 100 years.
Source: howmuch
The main reason for the loss of USD value is inflation. According to the United States Federal Reserve, the country prints almost 20 trillion USD each year. About this, Cameron Winklevoss recently said that there are then almost 20 trillion reasons to buy bitcoins.
Bitcoin and other cryptocurrencies have deflationary nature. So it is hoped that bitcoin may serve as a hedge in the face of the future global recession.
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