Even the U.S. government has realized that there is no way to ban Bitcoin unless the internet is shut down.
Many of us who have been in the cryptocurrency space for a while are very well aware of the saying, “first they ignore you, then they laugh at you, then they fight you, then you win.” And that is what Bitcoin seems to be doing, winning and winning after going through years over years of criticism and FUD.
Institutions are starting to realize that fiat currencies are losing value over time as central banks continue to implement quantitative easing strategies to prevent economic downturns. The truth of the matter is that the bigger the sum of cash that is put into circulation, the higher the inflation rates.
Nobody expects the U.S. dollar to devalue as much as the Zimbabwean dollar did, which saw denominations of up to $100 trillion in banknotes. But what if that is the path? A world where fiat currencies are worthless.
Such a catastrophic scenario may be uneasy for many to assimilate. Regardless, many institutional investors are already preparing for the worst.
Time Magazine has gone the way of Tesla, announcing it started accepting crypto for subscription payments. The American news outlet also revealed that it would add Bitcoin to its balance sheet. Time joins many publicly traded firms that have done the same, including Square, MicroStrategy, and WeWork, to name a few.
If you still do not own any Bitcoin, be aware that Tesla’s bold move to dump some of its cash reserves for BTC created a ripple effect across the planet. More companies are adding this digital asset to their balance sheets.
Therefore, it might be time to leave behind all the misconceptions associated with Bitcoin and stack some sats.