“Inflation Is A Hidden Tax on Your Money” Bitcoin Exchange Knocks Fiat in New Ad
Bitcoin exchange, River released a new commercial lauding Bitcoin’s value against fiat as a result of government’s policies. The web3 community has often tipped the asset as a hedge against inflation amid present macroeconomic conditions. The price jump in Bitcoin this year has led stakeholders to restate positions that the asset is a store of value.
River Blast Inflation-Ridden Fiat
River Finance praised Bitcoin as the alternative to inflation in a new advert. According to the commercial, inflation is a hidden tax on money that drives up consumer prices. As a result, rent, food, gas, etc have increased over time reducing people’s purchasing power.
“While you are carefully managing your budget, the government is not and keeps spending more to pay off their loans. To afford all that, they create more money which waters down the value of your money and lets you buy less in the future.”
Per the ad, the United States dollar has lost 97% of its value in the last 100 years. This has become a mainstream issue in recent years with the Federal Reserve closely monitoring inflation and hiking interest rates. On a global level, inflation has gripped several countries with figures hitting double digits annually.
River informed its users of the potential of avoiding inflation on their savings through Bitcoin. This is because governments cannot print more Bitcoin as there are only 21 million coins.
“You can save for the future, and build the life you have always wanted. This money is called Bitcoin…Bitcoin is not about getting rich quickly, it’s about not getting poor slowly through inflation.”
Bitcoin As a Store of Value
Bitcoin holders have tipped the asset as a store of value amid inflation and its increasing price. The significant gains in price have also spurred a wider market adoption. This year, Bitcoin price hit a new all-time high above $73,000 following surging spot ETF inflows. Although the price faces corrections, bulls hint at a wider gain as sentiments flip.
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