Thursday, 2 February 2023

Crypto News

Optimistic outlook for BTC amid shaky economic times

Optimistic outlook for BTC amid shaky economic times

It may not have been Tulip season in the Netherlands, but there was a palpable buzz at the picturesque Westerpark, which played host to the Bitcoin Amsterdam 2022 conference.

Prominent speakers from all corners of the Bitcoin (BTC) ecosystem drew in a healthy number of attendees across the two days of the program, exploring wide-ranging topics, challenges and successes as the space nears its 14th year of existence.

With global economic woes continuing across conventional markets and global monetary inflation concerns mounting, Bitcoin’s role as a potential hedge was a major topic of discussion, kicking things off inside the Westerunie dome on day one at the conference.

Bitcoin as an inflation hedge

Former hedge fund manager Greg Foss and Prince Philip of Serbia Gave provided some interesting food for thought, highlighting the potential for Bitcoin as a safe haven asset given its engineered scarcity when compared to a debt-driven economic system that has been fighting to combat inflation.

Cointelegraph spoke to Foss in Amsterdam, who highlighted his view that Bitcoin will play a major role in tackling monetary inflation. Having cut his teeth working for the Royal Bank of Canada and spending nearly 30 years trading credit, Foss’s introduction to Bitcoin fundamentally changed his outlook on the current economic challenges facing the world:

“I found Bitcoin in 2016. I’ve been researching it ever since, and in my opinion, it is the most important technological and financial solution to our looming debt crisis that we’re seeing coming true in real-time right now. What’s happening in the U.K. is extraordinary stuff. I haven’t been this nervous about the financial system since 2009.”

Prince Philip used an anecdotal example of soaring inflation in Serbia both in the past and in 2022 as cause for concern for locals despite government assurances that inflation numbers would return to single digits in 2023:

“This is how Bitcoin is really going to help people in Serbia and around the world. It’s key that we educate people to understand the scarcity of Bitcoin and how it’s going to solve the inflation issue we’re all experiencing right now.”

Former European Parliament member Nigel Farage also weighed in on the…

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