Blockstream CSO, Samson Mow, has urged his Twitter followers to buy Bitcoin in response to the UK central bank announcement that it will print more money.
Mow’s statement adds weight to the ongoing calls for investors to purchase safe have assets to shield their wealth from the economic impacts of the COVID-19 crisis.
The suggestions that investors should buy Bitcoin (BTC) are growing by the day as governments continue to print more money in response to the growing Covid19-driven economic crisis. The pandemic has exposed governments and policymakers to some unprecedented financial challenges. This has forced them to adopt some temporary solutions to stabilize their economies.
The popular course of action has been printing new money out of thin air. This will definitely lead to hyperinflation of fiat currencies in the long run, hence the calls to buy safe-haven assets that are highly likely to retain value over time.