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Bitcoin’s Uselessness As ‘Money’ Well Predates Its Recent Decline
Key takeaways
- Policy Bitcoin’s Uselessness As ‘Money’ Well Predates Its Recent Decline By John Tamny,
- ISTANBUL, TURKEY - NOVEMBER 08: Gold Bitcoins are seen in the window of a Bitcoin and cryptocurrency exchange office on November 08, 2024 in Istanbul, Turkey.
- Importantly, its lack of utility has nothing to with its recent decline.
Policy Bitcoin’s Uselessness As ‘Money’ Well Predates Its Recent Decline By John Tamny,
ISTANBUL, TURKEY - NOVEMBER 08: Gold Bitcoins are seen in the window of a Bitcoin and cryptocurrency exchange office on November 08, 2024 in Istanbul, Turkey. Bitcoin has soared to new record highs nearing 77,000 in the days after Donald Trump's re-election and on his campaign promise to support Bitcoin and the cryptocurrency market. (Photo by Chris Mc Grath/Getty Images)Getty Images Bitcoin will never, ever replace government money. It’s useless as money.
Importantly, its lack of utility has nothing to with its recent decline. As this column has said for years, big BTC surges are every bit the indictment of the faux currency as the declines are.
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