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is btc really "safer" than usd

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by COINS NEWS 122 Views

A recent survey from Bloomberg Markets shows that BTC is one of the top 3 assets in case of U.S. debt default.

The US economy has been in an uncertain state ever since the silicon valley bank defaulted. And now US has hit the debt cieling, as a result US treasury bonds that are considered great investments might also be at risk of being broken, making the situation much worse.

For those who are not aware about the situation, you can read about it here: https://www.dailyo.in/wallet/what-is-the-us-debt-ceiling-crisis-39748

The US government has never defaulted on its debts and this is the reason why US Treasury bonds are viewed as a safe investment. But, if it happens, it would create a financial crisis.

In 2013, the US government was very close to a default before it raised the debt limit at the last minute. The US economy lost 1% of its GDP at that time, reported the US Today.

If the US government defaults on its debt, it would no longer be able to pay the salaries of federal and military employees, issue Social Security cheques and the private companies and charities that depend on the government would no longer exist.

Not to mention, everybody's talking about a recession these days (when are they not?) Some are even speculating that we are already in one.

While circumstances do seem dire, are they really so bad that btc, that is known for being highly volatile, is a safer choice?

I've seen a few people on this sub that are living in countries with high inflation talk about how despite being much lower than its ath, btc is still more sustainable than their own currency, so I am aware it's not out of the realm of possibility.

What do you guys think?

submitted by /u/peskyant
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