Bitcoin is not the answer to US economic problems
This year could see the return of the anti-fiat money brigade
WASHINGTON DC news blogs are replete with mentions of cryptocurrencies and a strategic Bitcoin reserve. Meanwhile, Project 2025 called for a return to the gold standard and soaring gold prices are bringing back bugs and enthusiasts.
This focus is partly a reaction to the economic turmoil of the pandemic and its inflationary wake along with longstanding anti-government views in parts of American society. It also reflects the huge lobbying and campaign financing of cryptocurrency backers.
Economic debates about rules versus discretion have long raged, with proponents of relatively automatic rules-based approaches often wishing to rein in fiat money and the Federal Reserve. But the ideas advanced about Bitcoin and gold are hardly in America’s interest. Fiat money, whatever its imperfections, is here to stay.
Share with us your feedback on BT's products and services
