Last year ended on a high note for the crypto market and 2021 is starting off even better with bitcoin setting new all-time highs and exceeding them. The hype is nothing like has ever been experienced before in the crypto sphere. With each passing day, thousands of new retail and institutional traders and investors begin their foray into the crypto markets to scoop their share of the digital gold, which is earmarked to pioneer a new revolution in the world of finance.
The state of the global financial system has made the transition process much easier. Its high level of manipulation and susceptibility to political influence has given many people reasons to finally seek solace in decentralized digital currencies. This is evident in the recent turn of events that has seen employees and business owners finally key into the idea of earning in bitcoin while institutions are converting their reserves to bitcoin to evade inflation and losses resulting from government policies.
Just a few hours after becoming the world’s richest man and claiming the top spot on Forbes’ rich list, Elon Musk stated his interest in being paid in Bitcoin.
His tweet came off the back of another by the American author of “Bitcoin Billionaires”, Ben Mezrich where he said he’ll never turn down the opportunity of getting paid in bitcoin.
“I’ll tell you one thing, I’m never turning down getting paid in bitcoin again” says Mezrich.
Elon Musk responded saying, “Me neither”.
When asked by another Twitter user if he owned any dogecoin, he replied that he would love to own some in the future, even though he doesn’t own any presently.
Elon Musk’s discourse with Mezrich depicts the new reality of the average person. Bitcoin has proven to be a viable alternative to fiat currencies, not just as a better means of value transfer but also as a superior store of value. As federal reserves continually print out more fiat currency on demand, the risk of inflation heightens, and it becomes less desirable to earn in fiat currencies.
Millennials are taking the bull by the horn and are striving to break away from the shackles of the financial systems that have existed long before them, and it will be rather interesting to see what the future holds in the world of finance.