In many countries, there are emerging monetary crises as local currencies lose value. Local governments or central banks are unwilling or unable to solve inflation, and that’s a key chapter in the story of Bitcoin. The late economist Milton Friedman, a Nobel Prize winner, said people should only look to one reason why long-term inflation exists: the above institutions keep printing cash out of thin air which debases the local currency. That makes Bitcoin and other reliable cryptocurrencies an attractive solution in places that operate on shaky or desperate economic ground.
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