There's been a lot of news recently, especially with the advent of a news cycle focused on a potential recession, on the role of bitcoin and cryptocurrencies from a short-term investment perspective. Some have placed bitcoin and cryptocurrencies in the category of hedges, a form of digital gold or silver that can be used to store value through inflation and the debasement of fiat currency.
Yet that misses the forest for the trees. Bitcoin and cryptocurrencies at scale are not just a hedge for inflation and an ever-expanding monetary supply -- they are a fundamental hedge against bad governance and bad governments. In this respect, it may be easier to evaluate them along a longer-term horizon then just a short-term store of value.
Read more here...I think this point has already been proven a lot of times. In countries where people are experiencing some big difficulties due to wrong economic policies made by their political leaders, Bitcoin can be acting like a safe haven for the people, protecting wealth in the midst of runaway inflation rates and sliding national currencies. We should then not wonder why there are many politicians who can be against the use of Bitcoin as it can in many ways undermine their many misguided plans.
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