JPMorgan says that Bitcoin’s fixed production schedule would be harmful during “liquidity crisis.” Following a major economic shock, central banks tend to inject more money in order to soften the blow. However, what JPMorgan sees as a weakness, Bitcoin investors see as a strength, because no central authority can inflate away the value of Bitcoin. When new money is injected into an economy, the resultant inflation serves as a sort of hidden tax on everybody.
JPMorgan Thinks They Found Bitcoin’s Weakness, But Not So Fast
Cover image via u.today
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