Jordan Peterson says he bought Bitcoin to protect himself against inflation
After deepening his knowledge of Bitcoin in a podcast with the author of The Bitcoin Standard, University of Toronto psychologist and professor Jordan Peterson said he has bought even more bitcoins.
Jordan Peterson – famous YouTube personality – interviewed the author of “The Bitcoin Standard” – Saifedean Ammous. They discussed the merits of bitcoin and how the main digital asset can help in times of rising inflation.
Peterson spoke about the anonymous creator of BTC – Satoshi Nakamoto. He expressed his concern about how a mysterious individual could create such a project out of thin air and asked Ammous why people should believe in this concept.
The writer and Bitcoin enthusiast explained that Nakamoto’s anonymity is not an issue, as it could further enhance the decentralized nature of cryptocurrency. The main point is to be successful, as many other inventions that society uses today also have unknown creators:
“You use the wheel every day, but you don’t know who invented it, and we use a lot of things every day, not because we trust the guy who invented them, but because they have a solid track record.”
- China arrests senior Communist Party official for supporting bitcoin mining
- Michael Saylor recommends Elon Musk to sell part of his Tesla shares and invest in Bitcoin
- AMC already has 14% of online purchases made with cryptocurrencies
Ammous also stated that bitcoin is an improved version of gold, as people don’t have to worry that the coin contains base metal. The digital asset is also completely transparent and everyone can observe the transactions taking place on the network.
Getting to the point of why the BTC is the right financial tool against inflation, Ammous explained:
“Bitcoin is essentially the most powerful technology against inflation. It’s a huge quantum leap forward in the technology of money as a valuable protection against predation and inflation. I think it’s a natural fit for anyone who is productive and wants to save their value in the future.”
The author of “The Bitcoin Standard” reported that bitcoin can be particularly beneficial in hyperinflated countries, where fiat money will quickly begin to lose its value due to the consequences of the pandemic of COVID-19.
Shortly after the interview, Peterson admitted that he learned a lot from Saifedean. As such, he allocated more of his wealth to bitcoin.