The recent U.S. credit rating downgrade has drawn investor attention to bitcoin's quality as a hard money alternative,
Recent macroeconomic dynamics are putting bitcoin’s hard money quality back in focus, according to an analyst.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.A recent U.S. credit rating downgrade is drawing investor attention to bitcoin's quality as a hard money alternative to a depreciating dollar, an analyst said.
"We saw crypto move higher after Fitch downgraded the U.S. credit rating from AAA to AA+," Gordon Grant, head of sales and trading at Genesis, told The Block, adding that recent macroeconomic dynamics are putting bitcoin's hard money quality back in focus. "With increased U.S. Treasury borrowing, interest costs higher, and funding needs rising, the need for a hard money alternative starts to be appreciated," he said.
The world's largest digital asset by market capitalization rose almost 1% to $29,281 at 1:00 p.m. on Thursday, ET according to
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