Governments continue to rely on Fiat to maintain control over money and global wealth. But after decades of hegemony, the system could be collapsing to make way for crypto and bitcoin in particular.
Alstom, the French railway giant plunges almost 40% on the stock market
The global economy has been run by the great powers for as long as anyone can remember. Bank currencies rule the financial markets, putting emerging technologies such as crypto in a box of their own. And in this momentum, countries like the United States of America are doing everything to stop their progression.
As governments continue to rail against the volatility of bitcoin, the traditional financial system is sinking deeper into debt and could fall inexorably. THE Alstom dive by almost 40% last week opens the way to questioning.
In fact, the French company’s cash flow was negative 1.15 billion euros in the first quarter. A figure well above the cash flow for the first half of the previous financial year which was negative at 45 million euros. What attracts attention in this fall is the fundamental difference between state currency and individual currency which could call everything into question.
Bitcoin (BTC), the crypto that could change everything?
There is no shortage of criticism about bitcoin, but the most obvious reason is volatility. For the many opponents of the main crypto, speculation is the primary cause of money loss. And not surprisingly, the main detractors are governments.
Indeed, the great powers want to keep what has worked, to the detriment of what could revolutionize everything. According to some analysts, the banked monetary system would benefit from scrapping the idea of a state sovereign currency and focusing on bitcoin (BTC) which offers an individual sovereign currency.
But if it continues in this vein, there is a strong chance that the current system will begin to falter like in 2008 then 2012. And in this vein, the question that arises is whether citizens will continue to have faith in Fiat currency or if they will opt for another alternative, crypto.
It must be believed that certain countries like El Salvador and Nigeria quickly understood which side they had to play on. Traditional currencies have proven themselves, but it might be time to see bitcoin and the crypto sector in general as an exit route as the traditional financial system begins to show flaws.
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