Popular crypto economist and one of the most prominent thought leaders in the cryptocurrency space, Dr. Saifedean Ammous, has stated that Bitcoin (BTC) ‘kicks every other money’s ass.’ The author of The Bitcoin Standard; The Decentralized Alternative to Central Banking, was interviewed by The Express- a widely viewed U.K. news publication. As expected, the conversation was mainly because of his opinion on the pioneer crypto asset and ultimately, the most valuable digital asset the world has seen till today; Bitcoin.
Bitcoin’s Benefits to the Financial World
The economics professor at the Lebanese American University stated that Bitcoin has great potential to cause a positive revolution in the financial world. He said that Bitcoin offered something basically new in terms of money, the medium of exchange. Dr. Ammous stated that;
“The point is: Bitcoin, in terms of its design and monetary policy, has a very unique property which is that it is the first monetary asset we’ve ever had whose supply is completely unresponsive to demand. Bitcoin is not optional. It is here to stay. It is not the toy you want, it is the medicine you need.”
He further stated that when key players in the global financial system come to terms with the usefulness and worth of Bitcoin as a store of value, they will ‘beg’ for its complete adoption and a total modernization across the financial sector.
The Lebanese American University economics professor is best known in the crypto space for his book which relates the importance and benefits of Bitcoin in its bid to switch from an old fiat system that encourages the enriching of the rich at the top and the impoverishing of those at the lower levels. He said that Bitcoin is the solution to the corruption of the central bank system being used all over the world.
Dr. Ammous: Bitcoin Is Better than Gold as a Medium of Exchange
His book, The Bitcoin Standard is super standard in its enumeration on the monetary policy of Bitcoin and its setting within the context of the history of money. In the book, he spoke of the fiat system being adopted currently as an anomaly in terms of humanity’s past and demonstrated the prosperity a hard monetary standard can yield through his discussion of gold-backed currencies of old. He said that Bitcoin is better in terms of a medium of exchange than gold. He believes that the pre-determined and fixed supply of Bitcoin contributes to this fact.
For those who have read his book, his comments in the interview reiterated the facts stated in his book. The Austrian-inspired economist has always hammered on the benefits and importance of Bitcoin in his book, YouTube appearances, Medium articles, and U.K. mainstream media appearances.
It is quite surprising that The Express decided to feature Dr. Ammous despite his radical thinking and his predictions which indicate a societal change that threatens a status quo which mainstream publications such as The Express is usually keen to uphold.