The Dollar Standard
Whether the cryptocurrencies or precious metals overthrow the currently ruling fiat currency, make no doubt that the current financial system is a dead man walking.
China and Russia are moving forward, with direct currency transaction agreements and an alternative to the Western payment system.
The central bank of Russia is already developing its own blockchain currency and drafting a proposal to consider Bitcoin a digital asset.
Putin himself said, “Russia’s future lies in developing the digital economy.”
The IMF (International Monetary Fund) recently published a report detailing regulatory recommendations and encouraging central banks to begin adopting the blockchain.
Cryptocurrency is an expanding economy worldwide, and central banks are beginning to accept the reality that this is not going away.
I don’t know if Bitcoin is going to a million or zero. The only thing I can tell you is that in its current state, the dollar, being a Federal Reserve loan, is a dead currency.
If I had to make a 2050 prediction, I think we could safely say this: Cryptocurrency will be around, gold will still be a store of value, and the current dollar in your pocket will be history.
Just like a French franc that someone held in cash in the mid-1990s, within 10 years, not a bank, government, or business in the world would accept it as a form of payment.
Currently, the only cryptocurrencies we recommend are Bitcoin and Ethereum. Both are very speculative, and you should only invest money in them that you can afford to lose entirely.