The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Renowned Historian Says Bitcoin Is a Great Place for Rich People to Store Their Wealth

by Daily Hodl Staff
November 30, 2020
in Bitcoin

Renowned historian and Milbank Family Senior Fellow at the Hoover Institution at Stanford University, Niall Ferguson, says Bitcoin is emerging as a leading and reliable store of wealth.

In a new article penned at Bloomberg, Ferguson points to a myriad of well-known investors who are entering the space, including Paul Tudor Jones, Stanley Druckenmiller and Bill Miller.

He also notes recent remarks from economist and longtime Bitcoin critic Nouriel Roubini, who recently said BTC may be a partial store of value.

Ferguson points to the ongoing pandemic as the primary fuel behind the rise of Bitcoin in 2020, comparing it to a boost in the monetization of the English economy in the aftermath of the Black Death.

In this new era, he says people are beginning to recognize the leading cryptocurrency as scarce, sovereign and therefore a “great place for the rich to store their wealth.”

“First, the pandemic accelerated our advance into a more digital world: what might have taken 10 years has been achieved in 10 months. People who had never before risked an online transaction were forced to try, for the simple reason that banks were closed.

Second, and as a result, the pandemic significantly increased our exposure to financial surveillance as well as financial fraud. Both these trends have been good for Bitcoin.”

Ferguson also points to recent investments in Bitcoin by tech giants Square and MicroStrategy and the fact that PayPal now allows its millions of US customers to buy BTC as a sign of what’s to come. He says Bitcoin is offering investors a rare form of verifiable scarcity in an economic environment of seemingly endless money printing – two factors that he believes outweigh concerns about Bitcoin’s use of energy and relatively slow transaction speeds.

“Bitcoin offers built-in scarcity in a virtual world characterized by boundless abundance… Bitcoin users can pay without going through intermediaries such as banks. They can transact without needing governments to enforce settlement. The advantages of scarcity are obvious at a time when the supply of fiat money is exploding.”

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/lassedesignen

Submit a Press Release

Industry Announcements

  • After $3 Million Private Sale and Seed Funding, AiONE Reveals Staking Platform
    June 9, 2023
  • TRON Mainnet Celebrates Fifth Anniversary and Stands Now As the Preferred Global Blockchain
    June 8, 2023
  • Blockchain Pioneer Acquires International Fashion House Blk DNM
    June 7, 2023
  • WOW EARN Launches Its Crypto Wallet on iOS and Google Play
    June 7, 2023
  • BinaryX and AiGC Labs Developing First AI-Powered Virtual Reality Game on the Metaverse
    June 7, 2023
  • The Importance of Crypto Payments in 2023
    June 7, 2023
  • Proof of Talk 2023 – Two Days To Restore Trust in Web 3.0 and Design the Future of the Industry
    June 7, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$25,678.88
$25,678.88
3.69%
Ethereum
$1,740.20
$1,740.20
5.69%
Cardano
$0.239577
$0.239577
24.34%
XRP
$0.493403
$0.493403
6.87%
Dogecoin
$0.059966
$0.059966
11.95%

Spotlight

  • BitMEX Founder Arthur Hayes Predicts a Bitcoin Bull Market Ahead, Says To Expect Fireworks – Here’s the Timeline
    June 3, 2023
  • Analytics Firm Santiment Says Bitcoin To Catch Up With Rallying Stocks, Updates Outlook on XRP and Litecoin
    June 3, 2023
  • Popular Crypto Analyst Bullish on One Ethereum-Based Altcoin, Says It’s Showing ‘Solid Strength’
    June 3, 2023
  • Analyst Nicholas Merten Says Hong Kong Allowing Retail Crypto Participation Is Good News – But There’s a Catch
    June 3, 2023
Coinfest Asia Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl