Since the start of the Ukraine-Russia war, the American economy has been in free fall. Founder of the investment management firm Equity Management Associates, Lawrence Lepard raises an extremely important point: the sustainability of fiat money, and not just in the United States! In an interview, he indeed argues that Bitcoin will soon take center stage in the US economy (and perhaps internationally!).
Fiat currency enters the end game
Lawrence Lepard is a well-known veteran investor. According to him, the United States Federal Reserve (FED) is using bad policies that will plunge the United States into a serious monetary crisis. In one of his interviews on the site bitcoinmagazinehe even explains how the FED has done everything possible to throw the United States into a huge economic problem.
According to Lawrence Lepard, the FED took a wrong turn by taking initiatives in panic. By initiative, we obviously mean the excessive printing of money notes. Instead of solving the inflation problem, the FED actually made the situation worse.
This investment expert asserts that in addition to creating a serious monetary crisis, the policy pursued by the FED risks leading to its own demise. He even predicts the resignation or dismissal of Jerome Powell, the current chairman of the Federal Reserve of the United States.
Bitcoin: the solution to the monetary crisis?
For Lawrence Lepard, the Fed is about to lose. More explicitly, fiat currency would be playing its last act right now. This implies one thing: “bitcoin is going to become an important form of money”.
The veteran investor was quick to say that bitcoin is taking over gold as the ultimate store of value. He also recalled that for a long time, bitcoin has been considered as a store of value and a hedge against inflation. Especially since this crypto is being adopted throughout the United States. As it is adopted (and democratized), there will be a fixed supply as well as an ever-increasing demand. Result: bitcoin will continue to outperform gold in the medium and long term.
Lawrence Lepard is clear and firmly convinced that bitcoin will soon replace fiat currency in the United States. This is largely due to the excessive printing of money initiated by the FED. That being said, this veteran investor is not the only one who thinks bitcoin will take center stage in the economy. Other cryptocurrency experts have already predicted that within 20 years at the latest, bitcoin will take the place of fiat currencies. This week, incidentally, the regulatory framework for crypto will be scrutinized by the G20. Something to watch closely…
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