In the past, the world faced a significant economic crisis that was considered to be the biggest since the Great Depression. The stock market was in a state of turmoil, and global currencies were plummeting. The Australian dollar reached its lowest level in 18 years, and people were seeking safety in scarce assets and the US Dollar.
In response to this crisis brought on by crony capitalism, many were looking for alternatives to traditional financial assets. The growth of Bitcoin and the digital asset class showed a desire for innovation and attracted the attention of investors. On-chain data showed that finite assets such as Bitcoin were likely to be major players in the future. Despite the largest economic crash since the Great Depression, the number of new Bitcoin addresses holding the digital currency reached an all-time high.
At the time, many experts had predicted a recession, but a depression was considered the worst-case scenario. The global equity bubble burst after the longest US bull run in history, and the corporate debt bubble was also in danger of collapsing.
The COVID-19 pandemic was the black swan event that the system was not equipped to handle, and it was impossible to anticipate.
For years, it had been clear that the FIAT monetary system, which relied on government-deemed legal tender, was not fit for purpose. The crisis of inflating currencies exposed its weaknesses, and the fallout was severe. Experts had been warning about this for years, and those who heeded their advice were better prepared to weather the storm.
Unforeseen events such as the halt of physical cash flow worldwide, the rise of contactless payment, and the printing of trillions of dollars by central banks each day added to the stress on the economy. A demand and supply shock on a global scale, caused by the shutdown of China, led to supply chain disruptions and widespread job losses. Governments resorted to printing money to support their citizens, leading to an addiction to printing and the eventual threat of hyperinflation.
With monetary policy out of control, the experts believed that hyperinflation was inevitable. The world’s largest economy was printing money continuously to fight COVID-19, but the pandemic had exposed the underlying sickness of the economy, which had never fully recovered from the 2008 financial crisis. The experts believed that the situation would only worsen, and a new solution was needed.
Interest rates were expected to remain at 0%, and the FED’s QE was unlimited. The world was heading down the same path as Zimbabwe, where the state of the economy was not a model to emulate. Bitcoin, invented in the wake of the last financial crisis, offered a different solution. With its finite supply, borderless and easily transportable nature, censorship resistance, and use as a store of value and payment, Bitcoin was particularly attractive in an inflationary environment.
Smart money was flowing into alternate assets, and new millionaires were being created every day.
The experts had years of experience creating successful platforms and strategies for new investors, and were dedicated to helping others achieve their goals. Despite their expertise, they could not reveal all their secrets. However, they were willing to provide the tools and guidance necessary for success.
It all started with a first step, and for those interested in taking advantage of the opportunities available, now was the time. The world was facing a difficult and uncertain future, but with the right information and support, anyone could thrive in these challenging conditions.
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Joe Shew
Founder & CEO of Crypto Consulting Institute
Sam MacDonald
Head Analyst
