MacroVoices #377 Daniel Lacalle: On The Road To Stagflation
Macro Voices
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Bitcoin's Emergence as a Scarcity Asset
I think that Bitcoin is certainly building a position in which it differentiates itself from other cryptocurrencies. But one thing that I always find troubling when discussing Bitcoin with people that look at it from an investment perspective is the nugget proposal of saying that because supply is limited, it can only go up. That is not realistic. There are numerous assets and there are scarce and where supply is limited and prices come down. We have just discussed, for example, oil, but there's water, for example.
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