3 reasons why investors are betting on Bitcoin and not the US dollar

Bitcoin has been in the news lately. As BTC hits an all-time high of $68,000, the crypto market appears to be in full swing.

With Bitcoin ETFs in the mix, the influx of investors into the sector has been truly astounding. Analysts have noted staggering statistics for Bitcoin, noting that ETF inflow has surpassed the billions threshold.

Bitcoin ETFs have surpassed gold as one of the top investment choices for investors. With a huge popularity quotient and a fluctuating dollar in sight, here’s how Bitcoin could replace the US dollar.

Also read: BRICS announces new blockchain-based crypto payment system

Three reasons why Bitcoin could replace USD

The American dollar USDThe American dollar USD
Source: News.Bitcoin.com

Queuing for higher returns

With the prices of the US dollar fluctuating from time to time, Bitcoin is slowly emerging as one of the best holding and storage choices for investors.

Calls for dedollarization and news that BRICS would be working on a new currency had a negative impact on the dollar.

Investors are now looking for a strong supply of valuable currencies that can maximize their returns, and Bitcoin appears to be a promising competitor to the US dollar.

A Robust Coverage Option

As the US dollar loses its strength globally, investors are keen to explore Bitcoin as a possible hedge against inflation and economic crisis.

Robert Kiyosaki, author of Rich Dad, Poor Dad, is a strong supporter of BTC and is often known for spreading the reasons why BTC is better than USD.

Kiyosaki argues that money printed by central banks, like the dollar, is not backed by any reliable tangible asset. This makes them unreliable sources of income and interest. However, Bitcoin’s limited supply and resistance to inflation appears lucrative to many, which Kiyosaki believes could be a game-changer.

Bitcoin as a diversification tool

With Bitcoin ETFs in the mix, both modern and traditional investors are turning to diversifying their portfolios. These investors want to protect themselves from growing economic crises and crises.

Also Read: BlackRock Wants to Buy More Bitcoin ETFs for SIO Fund

As Bitcoin is resistant to inflation and economic shocks, it has been actively explored as a diversification tool that investors can track and store. The purchasing power of the US dollar is also declining. This development also requires investors to explore alternatives that can maximize their profits to the maximum.

Likewise, diversification or investment in a plethora of new areas and sectors will ensure protection against economic crises and collapses.

reference: watcher.guru

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