In an unprecedented surge, Bitcoin reaches new all-time highs in 14 countries, signaling its growing role as a financial lifeline in economies battling inflation.
Former Coinbase CTO Balaji Srinivasan highlights Bitcoin's pivotal moment as it provides a beacon of hope for over a billion people.
With expert insights advocating for Bitcoin as an essential asset for economic resilience, find out why now is the time to consider BTC as your financial parachute.
Record highs in 14 countries
Balaji Srinivasan, former Chief Technology Officer of Coinbase, a major U.S. crypto asset exchange, reported on February 22, 2024, that Bitcoin (BTC) hit record highs in 14 countries.
- Argentina
- Burundi
- Congo
- Egypt
- Ghana
- Japan
- Laos
- Lebanon
- Malawi
- Nigeria
- Pakistan
- Sierra Leone
- Sudan
- Turkey
Bitcoin as an Inflation Hedge
At the time of writing, the price of Bitcoin (BTC) stands at approximately $51,400, with its all-time high in US dollars being around $68,000.
While it appears that reaching a new all-time high in USD terms may take some time, in the 14 countries listed, their local currencies have depreciated against the US dollar, effectively marking a new high for Bitcoin in those regions.
Bitcoin, with its total supply capped at 21 million BTC, is considered an excellent refuge to protect assets from inflation (rising prices and the devaluation of currency).
Multiple experts have voiced the opinion that purchasing BTC is a prudent measure to safeguard one's assets.
Among them is Robert Kiyosaki, known for his "Rich Dad Poor Dad" series, who insists that just as student pilots learn emergency landing techniques, people should learn how to protect their assets in case of a global economic collapse.
On February 8, he pointed out that gold, silver, and Bitcoin are the "parachutes" for a soft landing.
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