July 20, 2024

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Community discusses why inflation isn’t pushing more people to crypto

1 min read
Community discusses why inflation isn't pushing more people to crypto

While some anticipate that more people will naturally get into crypto due to inflation, the reality is far from some community members’ expectations. A discussion in the r/cryptocurrency subreddit highlighted this topic and explored why higher inflation is not pushing more people into the crypto space. 

According to a Reddit user, events like the United States Federal Reserve printing more money and the government spending more and more funds have led them to the conclusion to get into crypto as one of its functions is to hedge against inflation. The Redditor posted that they expected more people to do the same in the subreddit. However, the community member is now puzzled as to why this is not the case.

In response to the Reddit thread, one community member

On Oct. 13, politician Nigel Farage told Cointelegraph that one of Bitcoin’s appeals is its fixed supply and highlighted that it cannot be inflated away. According to Farage, Bitcoin will very soon become a trusted means of exchange in Europe as a very big change is set to happen in the next 2-3 years.