The last time America saw inflation this high was in 1982. The U.S. Labor Department’s Consumer Price Index (CPI) was 6.9% back then. Today, it is at 6.8%, and the wealthy keep getting wealthy. Nevertheless, there is finally an answer to all this nonsense, and it comes in the form of Bitcoin.
The rich getting richer is not just a saying. It is a reality. In fact, the wealthiest people in the world know how to keep getting wealthy no matter what is going on in the economy, like when the Rothschilds funded the British war effort against Napoleon. Nathan Rothschild heard of victory a day before the government messengers could deliver the news and used the information to profit from his ownership of bonds.
To this day, the wealthy have themselves set for any circumstance. Benefiting while the rest struggle, the wealth of the top 1% keeps climbing over the years. However, conversely, the bottom 20% can seldom get ahead, and the bottom 80% most often cannot brag about any real impressive gains.
“The government and the elites want to have all the wealth, so they manufacture inflation, and the wealth flows to the top. And that’s why we have the greatest wealth inequality in the history of mankind. Bitcoin helps solve that because now we can opt-out as an owner of assets from that fiat system.” Mark Yusko, the CEO and CIO of Morgan Creek Capital Management
Like Yusko mentioned, one of the problems is the ownership of assets. Typically, people do not buy portions of houses. In the daily lives of ordinary human beings, people do not have the option to buy a third of a house. That is not usually how real estate works. Owning physical assets does not typically work that way. However, anyone can buy any portion of Bitcoin that they want. It will grow. It will become more tomorrow, something the dollar bill cannot promise.
In walks Bitcoin, it is possible to own a portion of an asset via cryptocurrency. The real estate market, in fact, has opened up opportunities like that. A few years ago, CNBC did a story about a five-unit apartment building paving the way for this new type of investment model.
Other ways the less fortunate get behind is on fees. For every transaction, there is a cost and these costs add up. Fees for swiping a credit card. Fees for transferring money and every other transaction that they can possibly make. Not only that but taxes for making money. There are taxes for making money with our money. There are taxes for spending our taxed money. Taxes for driving down roads our tax money built in the first place. Taxes and fees get the poor coming and going, but that is another one of the benefits of Bitcoin. While Bitcoin cannot do anything against taxes, the Bitcoin network is designed to lower transaction costs far below that of traditional methods, giving consumers more purchasing power.
Another great reason Bitcoin is a solution for wealth inequality lies in security. BTC provides safe and effective protection of legal tender for 70% of the adult population who do not have bank accounts. In addition, it provides merchants and consumers more choices in how they conduct business. With a payment method that is not tied to any government or regulation, we can buy and sell goods in a peer-to-peer network that is ever-improving with each new update.
Wealth distribution has never been more off-balance. Billionaires driven by greed suck up as much as possible with little regard for who gets hurt. So it is excellent that Bitcoin came along to provide a hedge against inflation when people learn to take advantage of it.
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