Finding a critic of fiat currencies is not frequent. However, let me assure you, they exist. The Dutch Central Bank, De Nederlandse, has released a statement acknowledging the worth and importance of the Precious metal Gold. The bank has stated that Fiat money will become subordinate to Gold when the world’s financial system faces the meltdown.
The bank described the metal as “the trust anchor for the financial system” and commented, “If the entire system collapses, the gold stock provides collateral to start over. Gold gives confidence in the power of the central bank’s balance sheet. That gives a safe feeling.” The central banks adopted Gold after the financial crisis that invaded the economy of the year 2008.
The firm belief in Gold by DCB did not fail to catch the attention of the crypto community. The enthusiasts stocked up to cite that bitcoin is capable of the same. Mike Novogratz, the serial investor, anticipated a positive era for the assets and said, “We’ve got geopolitical uncertainty, we’ve got negative rates; it’s all bullish for gold and bullish for Bitcoin.”
However, while a major group agrees with the Gold’s abilities, significant others do not pitch in for the same for bitcoin.