At times of uncertainty, Having Fiat will definitely not help you.
At times of uncertainty, Having Fiat will definitely not help you.
Having Fiat is not bad because "Cash is King" in most cases but whenever any uncertain event happens (in the current scenario, the conflict between Israel and Palestine can be considered as an uncertain time.), it is always observed that "focal" point of uncertainty or country where the unfortunate event hs its currency devalued. Due to the connected Global economy, this does not affect only that place but sometimes it starts impacting other places of the world also and it is observed that inflation or higher prices of the basic amenities can be observed.
Gold Definitely gained momentum.
Not sure how much this conflict has currently affected world economics but I observed one thing this conflict has a strong impact on the price of gold started increasing after this conflict. So looking at the price of gold, it is clear that "Physical assets" gained in value against USD(or Fiat) due to this uncertain time.
Crypto prices look unaffected.
Though the price of crypto is also in a downtrend but I do not see the direct price impact on crypto just after the war/conflict as it is observed in the price of the Gold. Since crypto is also form a currency, I expect that it will also affected by the same principle of the currency but is I am really right?
I guess it depends.
It is 100% confirmed that Fiat currency will be certainly devalued if some unfortunate happens to the place or country but for cryptocurrency, it is not localized to a specific place or country but it is global in nature and for Bitcoin, where the number of Bitcoins is fixed it looks highly unlikely that it can "devalued" in catastrophic events.
Actually, I expect cryptocurrency especially Bitcoin to have more value in these cases as it is also considered as a store of wealth. So my expectation that Fiat is very likely to be devalued and physical assets and cryptocurrency definitely to gain value.
So please share your thoughts on how you like to store your wealth.
Posted Using InLeo Alpha
In the years to come crypto will be more and more valued by the masses especially because the hedge that it plays during challenging times.
Having your wealth stored digitally makes moving away from a country easier.
We saw that happen with Ukrainians at the beginning of the war.
Thanks , Very rightly added "Having your wealth stored digitally makes moving away from a country easier." This is in my mind but really forget to pen it down.
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I prefer putting it into assets such as stocks but crypto/gold/silver could also be good. I don't know where things will go but I do think the USD will be around for a while so I am not as worried but having it in assets would also appreciate in price too.