U.Today – Peter Brandt, a trading legend with decades of experience dating back to the 1970s, recently shared his thoughts on the weakening US dollar and why he sees (BTC) as a solid bet for preserving value.
Brandt noted that while when he was born a dollar could buy a dollar's worth of goods, it now only has 0.05 cents of its original purchasing power. This sharp decline in the dollar's value, he suggests, makes Bitcoin look like a promising store of value.
This comment follows a recent post by Elon Musk in which he questioned the current state of the dollar’s value. The post also compared the fall of the US dollar to the hyperinflation that affected the Zimbabwean dollar, illustrating the sentiment of a large number of people, and also influential figures, regarding the current economic situation.
Weak Dollar = Strong BTC?
The discussion about the erosion of the dollar and the potential of bitcoin is not new. On the same day, financial expert Robert Kiyosaki weighed in with his views on inflation in the United States. Kiyosaki, known for his book “Rich Dad, Poor Dad,” suggested that bitcoin could soar to $100,000 by August next year as a hedge against inflation.
Brandt's recent article echoes this growing sentiment. He believes that the US dollar, along with other paper currencies, is rapidly losing its value. Looking ahead, Brandt predicts that a new system for managing payments and storing value will emerge in the next decade.
This article was originally published on U.Today
