Our global financial system is so corrupt that it looks like a giant Ponzi scheme that is about to collapse. Once it happens, people will turn to digital money, which will eventually lead to their mass adoption. That's the view aired by CEO of Overstock Patrick Byrne in a recent YouTube interview with Naomi Brockwell.
“People turn to it where they collapse, like Venezuela or Cyprus or Syria, something like that. When people start getting into it is when their own financial systems collapse. So yes, given that I think the entire modern financial system is a big Keynesian, magic money tree Ponzi scheme, I do expect that the day will come when people turn to crypto,” he said.
Being designed as a better alternative to the existing financial regime, cryptocurrencies may serve as a safe haven in times of economic turmoil and a hedge against inflation and financial cr...
This article appeared first on Cryptovest