The gravitation towards Bitcoin as financial crisis deepens
Sadly it will take financial crisis or a pandemic like in the case Covid 19 for people to gravitate towards safer assets and in most cases Bitcoin is often the preferred one being the most famous cryptocurrency.
Last week, Bitcoin trading in Argentina exploded to a record-setting volume of 101 million Argentine pesos (roughly $1.4 million USD). The previous all-time high for weekly BTC volume, measured in the local currency, was almost half that at 69 million. The surge in BTC trading comes amid what could potentially be Argentina's worst economic recession in its troubled history.
Source
The sad reality is national currency are now worth Satoshi at the time of writing 1 Argentine Peso is equivalent to 0,0000015 SAT. With financial crisis deepening at such rate, the impact will be people seeking safer assets like Bitcoin.
Evidently people are still asleep when it comes to Bitcoin and cryptocurrency in general.
$1.4 million worth of Argentine Peso is massive influx to Bitcoin, people will begin to lose faith in fiat and finally start moving towards cryptocurrencies. The transformation of money from what we know it as fiat is gradually changing into digital fiats and cryptocurrency.
Which of these is going to be the ultimate form of money? I am always on the decentralized cryptocurrency side of money.
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I am hopeful with btc. I been hodling it for years.
I am as well I just wish to keep accumulating.