It's too late' to use crypto as hedge against collapsing fiat currencies, says BitBoy Crypto | The Crypto Mile
- 2 years ago
On this week's episode of The Crypto Mile our host Brian McGleenon meets Ben Armstrong, aka BitBoy Crypto, to discuss the current economic dynamics that have seen the British pound and euro faltering against a strengthening dollar. The influential YouTuber warns investors that "it's too late" to use crypto as a hedge against collapsing fiat currencies.
The current macroeconomic conditions have seen the US dollar strengthening against the pound and the euro as investors suspect the Federal Reserve's aggressive stance on interest rates is unlikely to change.
After the UK's Finance Minister Kwasi Kwarteng unveiled historic tax cuts and the biggest increase in borrowing since 1972 a fog of uncertainty has decended over the UK's battered pound, causing investors to explore alternative safe havens.
However, BitBoy Crypto claims that digital assets are not a good option for storing value amidst the current macroeconomic headwinds.
The current macroeconomic conditions have seen the US dollar strengthening against the pound and the euro as investors suspect the Federal Reserve's aggressive stance on interest rates is unlikely to change.
After the UK's Finance Minister Kwasi Kwarteng unveiled historic tax cuts and the biggest increase in borrowing since 1972 a fog of uncertainty has decended over the UK's battered pound, causing investors to explore alternative safe havens.
However, BitBoy Crypto claims that digital assets are not a good option for storing value amidst the current macroeconomic headwinds.