Home Bitcoin News The US government should also include Bitcoin in its balance sheet

The US government should also include Bitcoin in its balance sheet

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Crypto News

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Inflation in the United States has exceeded the permissible psychological barrier of 3% and now exceeds 5%, which causes discontent among Americans. Chairman of the US Federal Reserve Jerome Powell recently admitted that the current level of inflation is already causing some concern.

Due to the effect of inflation, the dollar depreciates, and therefore we have to look for other sources that are not subject to the inflationary press. Moreover, there are opinions that in fact the inflation rate in the United States is much higher than 5%, and is approaching the mark of 15-18 percent!

And the most preferred asset in this regard is none other than Bitcoin. Recall that in September of this year in El Salvador, Bitcoin was recognized as a means of payment, along with the American dollar. No catastrophe has occurred, despite fierce criticism and apocalyptic forecasts from the financial bureaucracy. Even numerous protests against Bitcoin did not help, and now in El Salvador the attitude towards cryptocurrency is gradually changing.

If you look at the dynamics of Bitcoin’s movement in the market, it can be noted that despite short-term falls, in the long run everything is fine with it. It is not affected by inflation and its popularity is only growing.

Will the governments of states, including the United States, be able to decide to keep Bitcoin on their balance sheet? After all, they should understand that the value of BTC is still growing, and it may well replace gold after a certain time. If this happens, then it will mean a new stage in the development of the entire crypto market.

But then another question arises, and who will be responsible for the fact that the economy was senselessly pumped up with fiat, further accelerating the inflationary mechanism, and driving countries into a debt pit?

Why was Bitcoin not recognized by the authorities earlier, although they saw perfectly its potential and protection from inflation on a global scale? However, it is not at all a fact that the financial bureaucracy will want to accept BTC on the balance sheet, since they will have to moderate their appetites and limit excess profits for a narrow circle of corporations and individuals.

This once again points to the fundamental contradiction between the classical and digital economy. Although the problem is quite solvable, and if you look at how centers for the introduction of blockchain and cryptocurrencies are being created in Dubai, attracting multibillion-dollar investments, it is obvious that Bitcoin, like other cryptocurrencies, only helps to develop the economy without devaluing it.

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