chepicap.com
While there are many around the world who remain skeptical on cryptocurrencies and blockchain, one thing that most can agree on is the imminent collapse of the macroeconomy. Erik Voorhees, ShapeShit CEO has suggested Bitcoin could be a potential “escape hatch” when the time comes.
There has never been a global recession since Bitcoin was created. Next time it happens, there is an escape hatch. https://t.co/XmwcCcuSU9
— Erik Voorhees (@ErikVoorhees) April 16, 2019
While the economy appears to be relatively sound, there are several indicators suggesting turmoil just beneath the surface. The US Treasury Bond yield curve, for example, saw a negative spread between the three and ten-year notes. In the past, this has been a precursor to recession.
Additionally, debt, especially sovereign debt, is reaching all-time highs. As NewsBTC reports, since the 2008 crash, the nominal value of all forms of debt has increased by several trillions of dollars as around the world central banks look to boost their balance sheets, and firms borrow more and more to expedite growth.
However, as the world marches towards the next global recession, Erik Voorhees explains that this time around, Bitcoin may provide a way out – a sentiment shared by Ikigai chief executive, Travis Kling. As Kling explains, cryptocurrency’s value as a non-sovereign, decentralized digital money might be exactly what consumers need in this uncertain market. “Central banks and governments around the world are proving the profound need for” cryptocurrencies, rather than vilifying it.