BuildDirect’s best-selling author and co-founder Jeff Booth says it could reach a point where all currencies will be pegged to Bitcoin.
In an interview with Cambridge House International, Price of Tomorrow author Booth describes a scenario in which the number one cryptocurrency will rise and become the king of money.
“The government says,” We will make your cash worthless. ” Why do you think the population is increasing? They seek value protection from the policies of governments that destroy their currencies.
It can take a few different forms, but I think the currencies will be fixed to Bitcoin at the end of the game. ”
Booth also explains that because of the way it creates efficiency and lowers prices, the advancement of technology is inherently deflationary. The deflationary nature of technology, according to Booth, directly contradicts the inflationary forces arising from the loose monetary policies of governments, and this encourages a war between the two phenomena.
“Two giant powers and technologies competing against each other will win against money printing.”
Referring to how gold could not save refugees during World War II, Booth says Bitcoin is much safer in the event of a disaster.
“Going back to the Second World War, people would sew gold on their clothes while trying to flee as refugees and would be drowned by the gold in their clothes. As you can go anywhere with Bitcoin to protect your wealth today; it is a much more effective way. Therefore, the portability of Bitcoin alone becomes very important for security reasons. We can call this a lifeboat. ”
Booth also emphasizes that a global financial system based on Bitcoin is still on the table.
“History is next to gold fans, but if you see how Bitcoin was designed and Bitcoin is likely to be a reserve currency, the future technology is moving very fast.”