3min chapter

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#1194 Dr. David Andolfatto | First Central Banker To Present Bitcoin Publicly

The Pomp Podcast

CHAPTER

The Benefits of Having a Unit of Account for Bitcoin and Gold

Dollar and other fiat currencies have lost purchasing power over the long run. If I'm holding Bitcoin, but I have to pay in dollars, the US dollar exchange price is obviously super volatile right of Bitcoin. Now you super as it could fluctuate 5% in a day, 10% whatever. But if I have my payroll in the unit of account of Bitcoin and I have Bitcoin, does that take away the short term volatility risk? Yes, a little bit because you eliminate the exchange rate risk that's inherent in any foreign currency.

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