Ruchir Sharma, chief global strategist at Morgan Stanley Investment, says evolving blockchain technology has led to the growth of bitcoin and as more people invest in the cryptocurrency, it can harm the U.S. dollar and weaken democracy.
https://apple.news/AsIjmR1UeQb-AMiZXiMGGDgHe mixes cause and effect. It isn't "betting on bitcoin" that is harmful to the US dollar (or any other potential reserve currency), it is the policies of extreme money printing that all the central banks are engaged in that is harmful to all fiat currencies. Bitcoin is a tool to protect yourself and the product of your life from bad policies engineered by elitist authoritarians around the world.
He kind of touches on that in the video, but not completely. Any form of competition for sound money is a good thing.
Any form of money that lets people protect themselves from looters is positive.
It is like saying chemotherapy is bad for oncologists because it might hurt their practice if someone is cured. Honest doctors would be fine with that since they want people healthy. Dishonest ones would prefer to keep the cancerous money printing going and then complain about a treatment.
Just another person that is part of system and that benefits from it and somehow does not get it, does it surprise me? Of course not, this is like blaming your partner when they leave after they find out that you cheated, of course they left you because you did not held your end of the deal, central banks supposedly had the function of protecting the purchasing power of their fiat currencies and in a hundred years the purchasing power of the dollar has been demolished and somehow people are at fault for leaving the cheating currency behind.
I can tell you that if the dollar was not printed the way it is even if it is centralized bitcoin will not exist, and even if it did most people will not see a reason to adopt it if central banks were responsible with their money creation policies, but now they are completely out of control and naturally people are trying to find a way to protect themselves and bitcoin is the perfect option to do so.
