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Bitcoin could save Microsoft and Apple from a devalued currency

TL;DR

  • Raoul Paul predicts that Apple and Microsoft will invest in Bitcoin
  • Bitcoin adoption could save the economy from recessions like that of 2008 

The CEO of Real Vision Group, Raoul Pal, has predicted that technological behemoth companies, Apple and Microsoft, will, in the long run, have to invest in Bitcoin so that they can escape from government tendency to devalue their fiat currencies at whim.

The former hedge fund manager at Goldman Sachs said that Bitcoin and other crypto-assets could save a failing economy. He also compared the current economic situation caused by the Covid-19 to the 2008 collapse of the world economy.

Pal went on to predict that countries would keep reacting in their usual way of printing more money and using their central banks as a “backstop.”

He further stated that it would be highly surprising if tech giants like Microsoft and Apple don’t invest in Bitcoin as a means of escaping devalued fiat currencies.

Bitcoin and other crypto asset adoption to rise in the coming years

With the rate at which the crypto market is growing, one can predict that the adoption of cryptocurrency and other digital assets would increase exponentially.

Countries like China, Russia, and Japan are working on a Central Bank Digital Currency that would be complementing physical cash. These countries have stated that this digital currency would be integrated to make transactions seamless and faster.

The European Central Bank (ECB) has also started consulting the public on creating a digital currency.

Top Fintech companies like PayPal have also recently announced that it would be supporting cryptocurrency on its payment gateway system. The feature would presently be available to its United States users alone. However, by 2021, it would be rolled out for all of its international users and its Venmo users.

Many experts have said that the adoption by PayPal would open up the crypto-asset industry to millennials.

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Kamsi King

King Kamsi is a fintech and digital currency writer and enthusiast. He is keenly interested in blockchain and cryptocurrency and their global adoption. When not busy with writing, he can be found hobnobbing in forums with the best minds in crypto, both developers and startup founders.

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