According to Bill Barhydt, CEO of a cryptocurrency wallet and clearing Abra, the U.S. government may want to adopt Bitcoin (BTC) more to fix its current economic situation.
Speaking in a podcast interview with Anthony Pompliano, co-founder of Morgan Creek Digital, on August 13, Barhydt said: “I think a very important moment has been captured for Bitcoin, a new asset class.” said. Barhydt cited the U.S. government’s inflation targets as justification for this idea.
Barhdyt mentioned rumors about the U.S. government’s 4 percent inflation target. He considered setting the deliberate inflation target as a previously unprecedented move and added:
“They think they have no choice but to fundamentally change the economy to grow.”
Because of the COVID-19 outbreak, the U.S. government has taken several corrective measures aimed at reviving the sinking economy. According to CNBC’s August 4 article, one of the latest moves has been to deliberately boost inflation.
“The goals announced have never been and will not be to protect the value of your money or wealth,” Barhydt said, criticizing the U.S. government’s decision.
“By definition, movement in the system is prepared to reduce the value of your money to create a growth-generating situation.”
