Bitcoin, A Tool for Alleviating Inequality?

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ShaneS2468
Posts: 9
Joined: Sat Aug 28, 2021 4:02 pm

When people think of reducing inequality around the world, there may be lots of things that come to mind. Bitcoin probably isn't one of them. After all, Bitcoin is known for its exorbitant (and highly volatile) price. Over the past few months, buying Bitcoin has looked more like playing the lottery than making a solid investment. But a recent article in Forbes makes the case that Bitcoin could play a big role in reducing inequality - and it makes the case by looking at El Salvador. Here's a quote worth noting:
So what can bitcoin bring to the party? Two things. In the short-term, it can ensure that more of these remittances go to their intended recipients, instead of being siphoned off by intermediaries. Longer term, it can also give El Salvadorians the chance to hold a currency that is designed to appreciate in value over time, instead of depreciating.
You can check out how the authors sees Bitcoin accomplishing these things by reading the article for yourself. What do you think? Could Bitcoin be a tool for alleviating inequality?
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