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Bitcoin has been stable during the economic crisis. According to crypto economy expert Renato Rodríguez, this digital asset could be a solid solution to face the 2020 crisis.
Bitcoin was created in 2009 as a response to the crisis caused by the U.S. housing bubble burst in 2008. The measures the government took to boost the economy after the crisis were risky and made clear to many that money isn’t under the control of the people. More than ten years later, Bitcoin’s success is an example of how the population wants to regain control over their money.
In 2020, the global economy suffered another blow with millions of unemployed people and the unprecedented closure of countries and businesses worldwide. Despite the fact that many industries were strongly affected by the situation, in late July 2020, Bitcoin reached its highest price in months. A victory that not many can claim this year.
In Latin America, cryptocurrencies and Bitcoin have slowly and surely gained popularity. An important promoter in the Spanish-speaking territory on this subject is Renato Rodríguez. He has worked for years driving the adoption of digital assets. Today, when many suffer from the recession and crisis, Rodríguez encourages people to prepare for the future through cryptocurrencies.
The expert commented, “Cryptocurrencies are the least fragile financial asset that exists today.” Seeing the behavior of the most important cryptocurrency (Bitcoin) during this year full of uncertainty, it’s easy to conclude that cryptocurrencies are a reliable option for the future.
Even though the promise of Bitcoin seems solid, Rodríguez advises people not to invest more than they are willing to lose and to know that “cryptocurrencies aren’t a method to get rich quickly. They are a method to get free quickly.”