People lose faith in Fiat currencies and are moving to bitcoin

People lose faith in Fiat currencies and are moving to bitcoin

In a recent interview with Reddit co-founder Alexis Ohanian is optimistic towards bitcoin.

Despite the tremendous level of volatility, which demonstrates the cryptocurrency’s number one, he believes that it is more stable than a Fiat currency.

The most common example is Venezuela, where most of the population has long been the preferred cryptocurrency of the national currency. However, Alexis cites the example of Turkey and said that this is only the first step.

Right now, it’s more like store of value. There is a certain attraction. And in fact, we observe on the example of countries such as Turkey that people are losing faith in the local Fiat currency. We see money moving into bitcoin. Despite the fact that it is unstable, it is actually much more stable for many people than their own national currency. But now we are still in the early, very early.

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