The Bitcoin Standard

The transition to the Bitcoin (BTC) economy shows no signs of abating.

As more nations consider alternatives to the USD as a unit of account, Bitcoin will likely be the technological successor.

This is because Bitcoin has a fixed supply and can easily be used as the global measure of account.

In the future, I can see transactions still being settled in fiat currencies. However, globally, they will be priced in terms of Bitcoin.

This will reward those nations that run prudent monetary policy and punish those that run the money printer.

We're a long way from that right now, but the transition could happen very quickly.

We're already seeing institutional adoption of BTC, with more than $10 billion flowing into the new BTC Exchange Traded Funds (ETF) in just their first 20 trading sessions.

El Salvador has already made BTC legal tender, and other nations will likely follow suit.

There's also a range of innovations making the BTC standard more practical than ever before.

I've discussed the ease with which BTC can be bought, sent and sold using apps like Strike.

You can also passively earn BTC through level 2 crypto solutions like Stacks.

Those who invested in Stacks when it was first discussed on this site are now sitting on three to five times their money and earning consistent returns from dividends paid in BTC.

These are just some of the reasons why BTC is going up in terms of fiat and is currently priced at close to AUD 75,000 (USD 48K).

Given the state of the current global reserve currency (USD), it's reasonable for the BTC ascent to continue.

Last month, the US added $201 billion to its national debt, which is currently more than $34 trillion.

It prompted Nassim Taled, the author of The Black Swan, to say it would take a miracle to prevent the US from entering a financial death spiral.