Bitcoin Could Progress the Fourth Industrial Revolution Says Wealth Manager
Over the past few months, bitcoin’s value has grown significantly and many believe the growth is due to the geopolitical risks present in the global economy. According to a well-known executive wealth advisor bitcoin is more than just an investment vehicle because it has the beneficial attributes that could give society an alternative financial system.
Just recently the executive director of Taurus Wealth Advisors, Rainer Michael Preiss, told CNBC’s “Capital Connection” that bitcoin could aid the global economy that is seemingly getting worse every day with debt burden. According to Preiss, the financial system worldwide is based on debt which has led to quantitative easing and “too much debt and too little growth.” Preiss details that he believes bitcoin has significant potential that could progress the fourth industrial revolution.
I believe Bitcoin and other crypto's are rising and will rise where there is global instability or not. Remove wars, remove North Korean, remove terrorism, etc., and what is left over ? Central banks are printing billions every single day and diluting existing currency around the world. This is only part of the equation. The other part of the equation is that over 80% of the world do not have bank accounts and banks cannot afford to serve them. At the same time, most emerging markets have more cell phones than people. Crypto's will solve the payment system problem for this massive population and will allow two farmers the ability to trade without a bank in the middle to take their cut, add costs, and slow down the transaction. Instead, it will be instant with zero costs.
Now think about the situation the ultra rich are in. If they convert their money into crypto they will jack up the price for them to buy it because the money supply dwarfs cypto's available. They seem to be pushing precious metals down to accumulate and convince everyone to stay away from buying them, but even this may backfire if crypto's like Bitcoin and Ethereum advance far enough. Only path I see for the central banks is to attempt to rollout a gold backed crypto currency.
ah!! superb writing :)
BTC could be an awesome alternative financial system. However, in my country, many people still don't even know what Bitcoin is. I hope that everyone will know this awesome kind of cryptocurrency. Thanks for sharing this amazing post, @atkins!
I believe that political instability coupled with a financial system that has not been restructured, but only patched up with 'temporary' measures, is fertile ground for growth of the cryptocurrency scene the next few years.
Add this to an acceleration push to all kinds of digitisation efforts of companies to get their businesses streamlined in the aftermath of the Great Financial Crisis, and there is ample wind blowing in the crypto sails.