Fiat Failures, Inflation to Fuel ‘Fear-Driven’ Bitcoin Rally – Crypto Insiders

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Fiat failures and widespread inflation stemming from skyrocketing public debt could pave the way for bitcoin (BTC) to enter the mainstream in the next one to two years, say prominent crypto industry players.

Speaking in a recent panel at Real Vision’s The Crypto Gathering event, Nic Carter, a partner at Castle Island Ventures and the co-founder of crypto market analysis firm Coin Metrics, stated that “a wave of sovereign currency failures, similar to the Asian financial crisis of the late 1990s, and similar to the post-Soviet Union [period] where sovereign currencies failed” was on the cards.

Crypto, he hinted, would be waiting with open arms if people did abandon their fiat currencies in favor of an alternative.

Carter said,

At pixel time (16:13 UTC), BTC trades at USD 9,334 and is up by almost 1% in a day. The price is unchanged in a week. It dropped by more than 1% in a month and almost 11% in a year.
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