Crypto Is The Future? Craig Shapiro Explains How Inflation, High Deficit Make Inside Money Less Valuable: ‘Bitcoin Is The Ultimate Outside Money’
Craig Shapiro, the macro strategist at the Bear Traps Report, made a case for holding Bitcoin (CRYPTO: BTC) as he explained how the value of the traditional currencies was constantly being challenged by growing debt and inflation.
What Happened: According to Shapiro, higher deficits are likely to lead to future tax increases, as there is no way to escape that matrix if the countries are not willing to cut their spending.
This pressure of paying taxes, along with high inflation, reduces the value of the domestic currency of a country, explains Shapiro.
It is evident from the 8.29% year-to-date decline in the U.S. Dollar Index value as the fiscal policies introduced by President Donald Trump‘s administration take shape.
Thus, Shapiro stated that “having more of your stored wealth in outside money vs inside money makes even more sense than ever before.”
“In more and more countries around the world, we are getting there faster and faster each day …
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