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Why Central Banks will opt for gold not bitcoin



Europe is facing an energy and financial crisis. In September, 2022, the Euro reached an inflation figure of 10%. Will this be the beginning of the end of the Euro? At the Bitcoin Amsterdam event, a panel was set to discuss the likely outcome of Euro in a market where bitcoin is becoming popular.

While I thought bitcoin was a scam in 2011 until I read the Whitepaper, I see the Euro failing soon as it’s at its lowest in the last 20 years; Marc Friedrich, co-author of The Crash is the Solution, said during the session.

One disadvantage of the Euro is that it is the common currency all European countries use at the same interest rate. Yet, the financial and economic realities of these states are different, Marc shared. The US dollar is different as each state of the US has the liberty to set its interest rate on the realities of its economy.

Alfonso Peccatiello, the author of The Macro Compass, supported Marc’s opinion by saying that the economic leverage of building infrastructure and a huge financial leverage cannot sustain Europe again. Interest rates are high, as well as inflation, he added.

Printing more money is a waste a time

Willem Middelkoop, author of the Big Reset, shared that the time for cheap solutions for most economies like that of Europe is over. Printing more money cannot save the Euro, he added. To support Willem’s thoughts, Marc Van de Chijs, founder of First Block Capital, affirmed that the world must leave fiat completely. And it’s not just about the dollar and euro.

Although we know that fiat systems are failing, I don’t think the government will fall into the hands of bitcoiners by accepting bitcoin completely, Willem shared. They will opt for gold instead of bitcoin because they don’t want to lose control.

The author of the Big Reset went further to say that the global reset has started, and the only two options available are gold and bitcoin. And since we know that Central Banks will reject bitcoin. Willem noted that the next step is to reevaluate gold again.

Marc Friedrich explained he expects to see revolution and war as these two elements are always part of the global financial cycle. And as these changes happen, “the first big Central Bank that adopts bitcoin, will win this whole race,” Marc said.

Read also;

How bitcoin is helping to manage climate change

Does DeFi need bitcoin for censorship resistance?


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