The Global COVID-19 Pandemic Gave People the Mandate of Independent Money

Proponents of Bitcoin (BTC) are excited about the prospect of inflation because the cryptocurrency has been billed as a check against central bank expansion, and such a period of inflation would demonstrate Bitcoin’s value in this regard. Central bank expansion can spare millions of unemployed people a great deal of pain, and to view cryptocurrencies like Bitcoin as merely a check against inflation is to miss the forest for the trees.

Bitcoin creates value by giving investors the option to exit into an asset outside the traditional cycle of consumption and production. In this way, Bitcoin is a check, not only against inflation, but against the underlying business cycles that give rise to things like inflation.

Timeline of Bitcoin