NOTE: The following is a matter of personal opinion – one which we do NOT share – for reasons that one MUST pay attention to. ~ Ed.
“I see Bitcoin as the life raft where you don’t have to worry about the Fed’s Ponzi scheme impacting traditional markets or if the economy crashes. You can opt into this parallel system that’s based on the rules that are set,” explained Natalie Brunell, Host of Coin Stories podcast. “When people finally understand Bitcoin, as our financial system unwinds and collapses, hyperbitcoinization will ensue because the dollar is no longer a safe haven.”
Brunell, who is also a Bitcoin educator, spoke to David Lin, Anchor at Kitco News, about hyperbitcoinization, the concept that Bitcoin becomes the default financial system of the world, at the Bitcoin 2022 Conference in Miami.
Brunell discussed how the Federal Reserve’s financial policies in this macroeconomic environment are hurting the middle class. “The Fed is between a rock and a hard place. They cannot raise interest rates significantly like they did in the 1980’s, because of the debt,” she emphasized. “We can’t service our debt if they raise rates. But if the Fed keeps printing money, we’re going to hit double digit inflation. That is crushing the middle class, it’s crushing savers.”
Continuing to speak about how Bitcoin will help the middle class become financially secure, Brunell said it’s important to spread education about Bitcoin. “Unfortunately, a lot of people still save in the U.S. dollar, and a lot of people don’t hold assets. It’s only the rich that hold assets, and they have benefitted from all the money printing. Although Bitcoin is volatile in the short-term, I would rather have a volatile appreciating asset that when you zoom out, goes up in value over time. This is compared to a stable depreciating currency like the dollar, which goes down over the same period of time.”
This year, governments around the world have seized and frozen bank accounts in certain countries. Brunell noted that this shines a spotlight on Bitcoin, because it is impossible to confiscate it. “When the Canadian government froze bank accounts, people were able to just flee across the border with crypto. In Ukraine people were able to do the same. Governments are soliciting donations in crypto,” she pointed out. “Russia said that potentially it will accept payments for oil in Bitcoin. Exxon Mobile said it will mine Bitcoin.”
Brunell explained why she is very bullish on Bitcoin for the long-term. “Bitcoin is very powerful as a computer network as well as an asset. Its technology network is distributed around the world, and it is bomb proof,” she stressed. “We are almost at all-time high hash rate levels. The network has so much value, because it is decentralized. It was programmed to be completely scarce; digital scarcity for the first time.”
“It’s amazing to think of a world where we can have this global neutral currency that no one can control. No one can manipulate. No one can print more of. We can hopefully usher in a new financial order that’s more inclusive,” Brunell added.
Written by David Lin for KITCO ~ April 21, 2022
