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October 5, 2022
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Erik Voorhees: the whole world will switch to Bitcoin –

Erik Voorhees, CEO and founder of the ShapeShift exchange, believes Bitcoin is on track to become a global currency that will be accepted worldwide. He added, however, that we are talking about a process that will take two or even three decades. Ultimately, however, it will improve the quality of life and increase the transparency of the financial system. He said it in time intelligenceprovided by Real Vision.

Erik Voorhees: Everyone will benefit from BTC

I believe that everyone will eventually switch to Bitcoin (…) fiat currencies will disappear Erik Voorhees says. – We have never dealt with something like Bitcoin as an alternative. We always just moved on to the next fiat currency. Now that a plausible alternative comes out [władze] face a much greater challenge. I think humanity will move to Bitcoin over time – added.

Political revolution

Voorhees believes that adopting Bitcoin will force governments to make significant changes.

– It will make life difficult for governments because they currently finance themselves in three ways. Taxes. They borrow [pieniądze]which will generate taxes in the future. And they print. These three elements are ways of financing power. And when the world shifts to Bitcoin, this third path will completely disappear – he explained.

In his opinion, cryptocurrencies will lead to the need for governments to “shrink”, they will have less power and money.

This will mean that governments will have to relatively shrink. Personally, I think the most glorious thing that can come out of Bitcoin’s growth is restriction of governments. But many people obviously disagree – He said.

The problem, however, is that today we see a completely different trend in the world. The current crisis has made it clearer that governments are heavily dependent on printing money. And they print them at a pace and scale that we have not known since the dawn of our civilization. Sudden termination of this process could lead to an escalation of the crisis. But what will have to happen sooner or later. Otherwise, we will register huge inflation almost everywhere in the globe. The cure for it may be investment in precious metals and cryptocurrencies that cannot be printed on.

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