Bitcoin is a buzzword and some argue it’s a scam. But with Elon Musk’s Tesla recently investing $1.5 billion into the cryptocurrency and with the Mayor of Miami considering giving city employees the opportunity to get their salaries paid in bitcoin, the cryptocurrency could be about to radically alter our monetary system. One of the unexpected, underappreciated consequences of this move to Bitcoin could be a closing of the wealth gap, writes Bradley Rettler.
Introduction
Global wealth inequality is increasing. Meanwhile government-backed currencies, where most of the poor save their money, are devaluing each year. Poor people lack access to banking, and they can’t get credit. This is at its most extreme in economies in crisis, but is true all over the world. Using Bitcoin can mitigate these problems and level the playing field for the world’s poor as we work toward economic justice.
Owning Cash is a Losing Game
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