2 years ago
Future rate hikes may be good for the crypto markets as major currencies are devalued against the dollar
Investor and founder Vinny Lingham wrote a series of tweets on Sept. 29 outlining a potential short-term future whereby Bitcoin will act as a store of value for those suffering a devaluation of their local currency. The British Pound fell to its lowest level against the dollar recently following the Chancellor’s mini-budget. However, as Lingham highlighted, the price of Bitcoin rose when measured in GBP during the same period.
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