Bitcoin (BTC) Should Be Viewed in a More Positive Light, Economist Alex Kruger Argues

Economist and crypto trader, Alex Kruger has presented compelling arguments for why Bitcoin (BTC) should be viewed in a more positive light.

Economist and crypto trader Alex Kruger has made a strong case for viewing Bitcoin (BTC) in a more favorable light. The prominent economist has highlighted the importance of holding Bitcoin, essentially encouraging investors to acquire the pioneer cryptocurrency as a hedge against fiat currency devaluation.

Bitcoin As A Hedge Against Dollar Devaluation

On July 24, Jedi from the YouTube channel Blocmates Orange hosted an exclusive interview with Kruger and Rich Rines, a founding contributor to Core DAO. While discussing the potential for a Bitcoin super cycle and deriving it from the cyclic halving events, Kruger also touched on the significance of BTC as a hedge against United States Dollar (USD) devaluation.

The economist argues that Bitcoin should be viewed in the near future as a hedge against extreme risks pertaining to the potential collapse of central banks and dollar devaluation. He further stressed that the need for such a hedge often materializes abruptly, suggesting that Bitcoin could serve as a crucial safety measure if the value of the dollar were to plummet.

Currently, the US national debt has reached new heights, surpassing $35 trillion. Furthermore, this staggering figure is likely to increase, owing to the substantial budget deficits that outpace the nation's economic growth.

In light of the increasing risk of a debt crisis, Kruger disclosed that investing heavily in Bitcoin becomes more advisable to protect against financial losses. He highlighted US Senator J.D Vance, who has spoken publicly about a potential dollar devaluation, highlighting the risks and dangers it could pose in the US.

Moreover, Kruger expressed hope that the US would begin to integrate and invest in Bitcoin in the near future. He noted that Bitcoin was not just a hedge against dollar devaluation and the collapse of central banks, but it could also transform into a reserve asset and an important store of value for investors.

“If ever we get to the point where we are very concerned about the value of the dollar and or the sustainability of debt, which is already happening, you want to be long Bitcoin, and you want as much Bitcoin as possible,” Kruger stated.

Bitcoin’s Role As Digital Gold Over Payment Method

While discussing Bitcoin’s potential to serve as a valuable hedge, Kruger exclaimed that he did not view Bitcoin as a payment method within the crypto space. Instead, the economist saw the pioneer cryptocurrency as a digital gold in the process of global adoption.

As a payment method, Bitcoin's price volatility and slow transactions pose a problem compared to other faster and less expensive crypto payment alternatives. However, being considered as a store of value similar to gold, Bitcoin could be used to preserve wealth over time, potentially increasing its chances of being a recognized and globally accepted asset.

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