The Bitcoin industry has proven to be one of the fastest-growing industries since the pandemic.
We are going through a complex economic moment at the international level as a result of various factors external to the financial markets as a result of armed conflicts in Europe, threats of war in Asia, and energy crises worldwide.
The largest international economies such as the United States, Europe, Asia, and Latin America, among other regions, are in danger of entering a possible recession together with high levels of inflation which vary between 6% and 9% monthly.
Inflation generates a loss of economic capacity in the purchasing power of users, compared to the general rise in the prices of different goods and services, the income of consumers is directly impacted.
The Bitcoin industry has proven to be one of the fastest growing industries from the pandemic to the present, it is estimated that at least 4.2 percent of the world’s population has invested in Bitcoin with 320 million investors worldwide.
Bitcoin was the first virtual currency to be born in 2008, it has a market capitalization of $381,527,094,622, and the fundamental pillars of this new paradigm are decentralization, non-intermediation, and high levels of privacy in its transactions.
Bitcoin brings with it various new uses for society as a new payment system, remittance sending, and anti-inflationary unit.
Bitcoin as a New Payment Mechanism
The virtual currency proposes a new payment system, where people can send and receive Bitcoin in a matter of seconds.
Using the values of decentralization and the non-intermediation of third parties in operations, people will be able to operate with Bitcoin without having market alterations or failures, such as price alterations or deviations and the asymmetry of market information.
Bitcoin as Remittance Sending
Sending money from one country to another is the main means of subsistence for millions of people in the world.
Remittances usually consist of sending sums of money from one country to another in which the dollarization of the economy and the lack of confidence in the local currency are usually big problems.
Bitcoin offers millions of people the possibility of being able to receive money in a matter of seconds, with better security, transparency, and privacy conditions in relation to expensive sending systems with high commissions.
Bitcoin as an Anti-Inflationary Unit
Bitcoin proposes a new anti-inflationary scheme, thanks to its issuance modality based on a fixed maximum of 21 million, users will be able to operate with Bitcoin without being affected by the monetary depreciation resulting from the issuance in traditional schemes.
In traditional scenarios of fiat money, the monetary base tends to increase infinitely, and the emission tends to be transformed into inflation.
By having a maximum issuance in the BTC monetary system, the monetary base does not increase indefinitely, and as a consequence, people will not suffer from the impact of depreciation.
In short, Bitcoin offers a variety of choices. It is a matter of doing your own research before investing, making sure you access reliable virtual platforms, so as to avoid scams.
By Audy Castaneda
