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Bitcoin as the Cure for Monetary Debasement, Claims Abra CEO

Bitcoin as the Cure for Monetary Debasement, Claims Abra CEO

The CEO of crypto exchange Abra, Bill Barhydt, believes that Bitcoin (BTC) is the solution to centuries of monetary debasement.

In a recent interview with Kitco News, Barhydt explains that history’s greatest empires thrived on sound monetary policies but eventually undermined public trust by devaluing their currencies.

Barhydt points out that after World War II, there was a plan to back currencies with gold. Countries would store their gold with the U.S., which would then print dollars equivalent to the gold’s value.

This created a clear understanding of currency worth backed by tangible assets. However, over time, every major power has abandoned this principle.

READ MORE: Arthur Hayes Urges Bullish Stance on Bitcoin Amidst Central Bank Moves

Barhydt argues that Bitcoin addresses this issue of currency debasement. With its finite supply, predictable inflation, and decentralization, Bitcoin offers a robust foundation for a global financial system.

He emphasizes that Bitcoin’s math is transparent, its scalability is feasible as Satoshi Nakamoto envisioned, and its decentralized mining network is reliable.

According to Barhydt, Bitcoin exemplifies how money should function, providing a system owned by the people with no central control. This, he believes, could revolutionize banking and eliminate the fiat-based monetary model that has dominated for centuries.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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