Bitcoin Boom To Cause Deflation? ‘It Will Make Everything More Affordable,’ Counters Prominent Advocate
Controversial influencer Andrew Tate questioned how Bitcoin’s (CRYPTO: BTC) rise might disrupt traditional capitalism and investment models, prompting responses from the Bitcoin community that defended the cryptocurrency’s transformative impact on markets and society.
Tate’s Argument: Capitalism At Risk?
In his video on X on Monday, Tate criticized Bitcoin’s dominance as an investment, stating that its unparalleled returns are causing capital to flow away from traditional assets like real estate and businesses.
“How do things continue to get built when the world wakes up and realizes that Bitcoin’s the best investment?” Tate asked, highlighting concerns about capital misallocation and the potential for deflationary pressures to stall economic growth.
Tate, known for his provocative commentary, suggested that Bitcoin’s deflationary nature could lead to a breakdown in economic activity.
“Deflation will crash …
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