notsosure
We may find out about whether BTC is a 'store of value' or a speculative 'risk asset' quite soon. Too early to say regarding inflation (as measured by CPI), but the upsaide risks seem to be in the ascendent. Will BTC sell off along with other risk assets if interest rates rise and risk-free returns become available, or will people looking to protect their wealth pile in? Only time will tell, but I personally suspect the former. 'Safe''? Over 50% mined in China, i.e. under the direct control of a single indivual who may not have the best interest of the West close to his heart. I am sure you are aware of what a '51% attack' is, and even BTC is open to this.....
As I look at things the wealthy folk and politicians have decided that the world will transition to Crypto Currencies.
Whether it is good or bad, democratic or a dictatorship, the world is governed and organised by a relative small number of wealthy folk.
In 1933 Prez FDR abolished the gold standard
https://www.history.com/this-day-in-his ... d-standard
At the end of the second war at Bretton woods a few powerful folk established the post war monetary system.
https://en.wikipedia.org/wiki/Bretton_Woods_system
In 1971 Nixon ended that Bretton_Woods system by among other measures ending convertibility of US$ to gold
https://www.federalreservehistory.org/e ... ility-ends
On and on through history, big economic decisions have been taken by a small group of people.
Now it seems that a similarly small number of people have decided that we should have Crypto currencies.
Unless someone can show that the technology is fundamentally flawed I expect crypto currencies to become more and more important as big money adopts them and compiles everyone else to follow. Fiat currencies by contrast look weak and vulnerable to the fashion of the moment.
Regards,