Could Fiat currencies be pegged to bitcoin in the future? The BuildDirect CEO seems to think so…

Quick Take

1 minute read

• Over the years since its creation, bitcoin has faced a lot of criticism from all over the world. 

• In countries such as Russia and China, bitcoin and the world of crypto hasn’t been viewed upon in such a kind of light and have prohibited the use of cryptocurrency in the past. 

Over the years since its creation, bitcoin has faced a lot of criticism from all over the world. In countries such as Russia and China, bitcoin and the world of crypto hasn’t been viewed upon in such a kind of light and have prohibited the use of cryptocurrency in the past. 

Many conglomerate companies have made their views very clear on criticising bitcoin and its ability to thrive in the future adding that more investors all over the world are still on the fence about whether they should get involved with bitcoin or not.

Oh and yet despite all the harsh criticism, one successful financial author of the “the price of tomorrow”, Jeff Booth believes that Fiat currency could be pegged to bitcoin sometime in the future.

Recently speaking in an interview with Cambridge house International, the CEO of the e-commerce business BuildDirect said that the irresponsible printing of the US dollar during the pandemic of coronavirus has made the challenge of debt is significantly more difficult. He continues saying that technology is decreasing prices and actually increasing efficiency saying that it is a competition between the deflation technology and the inflation forces that are coming from financial institutions like central banks and their monetary policies.

The excessive money printing in the US is still going on in order to try and keep the economy afloat during the pandemic and the financial crisis that we find ourselves in. In the end, Jeff believes that technology will ultimately come out on top against money printing as a consequence, Fiat currencies will be pegged to bitcoin.

Jeff further goes on to say:

“So the  government says, ‘We are going to make your cash worthless.’ Why do you think populations are rising up? They’re after the protection of value from governments’ policies that are destroying their currencies. It could happen in a number of different ways, but I think in the end game, I think that currencies will be pegged to bitcoin.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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