{"id":236037,"date":"2021-04-26T23:27:07","date_gmt":"2021-04-26T20:27:07","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/eric-weinstein-calls-bitcoin-potential-hedge-against-fiat-catastrophe\/"},"modified":"2021-04-26T23:27:07","modified_gmt":"2021-04-26T20:27:07","slug":"eric-weinstein-calls-bitcoin-potential-hedge-against-fiat-catastrophe","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/eric-weinstein-calls-bitcoin-potential-hedge-against-fiat-catastrophe\/","title":{"rendered":"# Eric Weinstein calls Bitcoin potential hedge against fiat catastrophe"},"content":{"rendered":"<p>&#8220;<strong># Eric Weinstein calls Bitcoin potential hedge against fiat catastrophe <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvZWQ1NmQxMWMtM2M1Yi00OGZkLTliMTAtY2RlMTAxNDAyNmE4LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Eric Weinstein, managing director of Thiel Capital and host of the popular podcast\u00a0<em>The Portal, <\/em>urged his followers over the weekend not to get caught up in Bitcoin\u2019s (BTC) daily fluctuations. He seemed to feel that it was wiser to focus on the cryptocurrency\u2019s ability to hedge against currency debasement at the hands of central banks.<\/p>\n<p>Bitcoin and other \u201chard-money\u201d assets like gold and silver could be sound alternatives to the \u201cdisguised actions\u201d of central banks, Weinstein tweeted to his nearly 485,000 followers. \u201cFiguring out how we hedge against central bankers printing and devaluing fiat currency remains our upcoming rendezvous with the market,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/EricRWeinstein\/status\/1386463212187525121\">said<\/a>, adding:<\/p>\n<blockquote><p>&#8220;This is not investment advice. But it is a belief that central bankers through their disguised actions are a threat to all those who hold cash and its close equivalents. Look into BTC, XAU, CHF, XAG, etc.&#8221;<\/p><\/blockquote>\n<p>He continued:<\/p>\n<blockquote><p>\u201cI have no time frame to give you on central banking actions. I just see a group of people who get into trouble and reach for the same tool. Over and over. And there will always be such trouble until we confront and address the underlying crisis in growth and innovation.\u201d<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We will need to go short the talent, ethics and skill of macro economists, central bankers, investment bankers and financiers. <\/p>\n<p>Gold isn\u2019t perfect. Neither is BTC.<\/p>\n<p>But we must beware the printing press and calls for relief, easing and stimulus are cries for transfer &amp; dilution.<\/p>\n<p>\u2014 Eric Weinstein (@EricRWeinstein) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/EricRWeinstein\/status\/1386463213454172162?ref_src=twsrc%5Etfw\">April 25, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>When Weinstein tweeted the message,\u00a0Bitcoin\u00a0was trading at $48,662.20. It would eventually <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/chart\/?symbol=BITSTAMP%3ABTCUSD\">bottom<\/a> around $47,000 before rebounding sharply to a price of $54,200 on Monday. <\/p>\n<p>Bitcoin\u2019s role as a deflationary hedge is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-17\/is-bitcoin-an-inflation-hedge-the-opposite-effect-could-happen-in-recession#:~:text=Bitcoin%20is%20unlike%20most%20other,value%20along%20with%20consumer%20prices.\">disputed<\/a> within mainstream investment circles, although there <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be an <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2021-04-09\/bitcoin-is-displacing-gold-as-an-inflation-hedge\">acknowledgment<\/a> that the digital asset is encroaching on gold\u2019s market share. Bitcoin\u2019s value has not only appreciated in dollar terms but also when priced in bullion. As Cointelegraph reported last month, BTC&#8217;s price against gold increased nearly sevenfold between October 2020 and March 2021. <\/p>\n<p>Weinstein previously <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ericrweinstein\/status\/1345808784153669632?lang=en\">described<\/a> himself as \u201cnot a Bitcoiner,\u201d adding that he has \u201ccontributed nothing to the vision of distributed computing.\u201d However, he\u2019s urged Bitcoiners to stop measuring their wealth in dollar terms and to instead focus on a higher goal. His views about the crumbling nature of fiat add credence to that view.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/eric-weinstein-calls-bitcoin-potential-hedge-against-fiat-catastrophe\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Eric Weinstein calls Bitcoin potential hedge against fiat catastrophe &#8221; Eric Weinstein, managing director of Thiel Capital and host of the popular podcast\u00a0The Portal, urged his followers over the weekend not to get caught up in Bitcoin\u2019s (BTC) daily fluctuations. He seemed to feel that it was wiser to focus on the cryptocurrency\u2019s ability&#8230;<\/p>\n","protected":false},"author":1,"featured_media":236038,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvZWQ1NmQxMWMtM2M1Yi00OGZkLTliMTAtY2RlMTAxNDAyNmE4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,75022,74863,74983,71835],"class_list":["post-236037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-central-bank","tag-cryptocurrencies","tag-decentralization","tag-gold"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/236037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=236037"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/236037\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/236038"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=236037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=236037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=236037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}