Right-wing commentator Ben Shapiro says he believes more and more people will be drawn into Bitcoin as the leading cryptocurrency offers safety and security amid the global devaluation of fiat currencies.
In a new video, Shapiro explains to his 2.86 million YouTube subscribers why new assets like cryptocurrencies need big-name personalities in order to grow.
“Any time there’s a market for any sort of digital currency, there will be rival digital currencies. The question is which one gains credence in the marketplace? It’s why, at the very beginning, it takes big people buying into this sort of stuff to make a difference in the market for it. The more Elon Musks you have buying into Bitcoin, the more faith there is that Bitcoin is a real thing. So at the beginning, it does appear to be incredibly volatile.
Whether those succeed or fail is largely and actually entirely based on the public view of whether those things are going to succeed or fail.”
The political commentator adds that Bitcoin is poised to attract more and more investors as people find a way to escape fiat currencies that are being debased by their governments.
“This is why so many people are skeptical of cryptocurrencies in the first place, but my feeling is that over time, cryptocurrencies, particularly ones that find a place in the market the way Bitcoin has, I think that those are going to continue to rise. I think as we have less and less faith in centralized governments, and it seems to me that we are right now, as that happens more and more, I think you’re going to see more and more people looking to diversify away from fiat currencies and instead moving into places like Bitcoin for actual safety and security.
Despite all the talk about volatility, it may be that in the future, the most volatile forms of currency are the ones coming from centralized governments, with an ax to grind, as opposed to a decentralized group of people who simply wish to engage in transactions that hold their value.”
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