While shoppers continue to face sticker shock, Americans are looking to place their hard-earned savings somewhere it won’t evaporate. That’s the problem bitcoin is designed to solve, thanks to the prescience of bitcoin creator Satoshi Nakamoto, who warned about the rise of inflation back in 2009.
Market experts were calling for bitcoin to hit $100,000 in 2021 and bitcoin ultimately finished the year below $50,000 after peaking at close to $69,000 in November.
Billionaire hedge fund trader Paul Tudor Jones has thrown his weight behind bitcoin over gold as a hedge against inflation and believes the flagship crypto is “a great way to protect wealth over the long run.”
Bitcoin got closer to mainstream adoption than ever before when El Salvador revealed that it would make the biggest cryptocurrency legal tender in the Central American nation.
Blockchain games are looked to as a catalyst to bring in more users to the cryptocurrency industry, which stands to benefit bitcoin as the biggest digital asset with the longest track record.