John Vaz, one of the academics and famous economists of Monash University, has discussed the role that the leading cryptocurrency Bitcoin will assume during the next major economic crisis.
The Value of Bitcoin May Increase in the Crisis
The analyst stressed that in the event of a deepening economic crisis, cryptocurrencies such as Bitcoin can turn into money-valued commodities. The example presented by Vaz for this issue was the cigarettes in prison. Although Bitcoin does not have an intrinsic value, according to the famous economist, this can experience a serious increase and reach use, just as cigarettes have a certain value in the prison environment.
After the US stated that the US Dollar is no longer a safe haven, the dollar is likely to be the worst managed asset of the last century:
“It is ridiculous to see the US Dollar as a safe haven, and this is probably the worst managed asset.”
Stating that the economic crisis may create a new opportunity for Bitcoin, the analyst has actually given the wait advice to BTC investors.