Posted by Covid-19, bête noire of the established order – Due to the current crisis so overwhelming, some of the oldest critics of Bitcoin, in particular Nouriel Roubini (Dr. Doom), have come (occasionally) to recognize the digital currency queen as a real store of value . The winds of change seem to be here, for others too.
Corona, accelerator of change
It has been a few years since we started a generalized transition to digital. The Covid-19 will have done the right thing to force us to carry out, in a few months, major transformations that would have taken years in normal times.
Among these transformations, 2 are strongly in favor of Bitcoin and digital currencies in general: the considerable increase in online transactions and the unreasonable production of fiat currencies .
The banknote that overflows the safe
Let us quickly come back to the concept of helicoper money , which is the fact of printing as many currencies as possible , then lending it at the lowest possible rate to companies, so that they can meet their obligations.
The result of this monetary policy? Over 23% of dollars printed since the advent of the currency were produced in 2020 . Faced with this proliferation of greenbacks, a question arises: what is the value of this constantly growing money supply?
This question, initially reserved for the most fervent detractors of sovereign currencies, has now made its way to Wall Street where confidence in the dollar is gradually decreasing .
The rise of online transactions
Due to social distancing , there has been a marked increase in online transactions , whether for purchases or movements of money. The last refractories, still placing their transfer orders on paper, had to go digital in the face of the closure of bank counters and a large part of the population has resorted to e-commerce.
In this new all-digital paradigm, surveillance is increased . In fact, the more we use online services, the more data we generate to analyze our behavior . Bitcoin could therefore be an alternative to circumvent this generalized surveillance.