Fitch US Ratings Downgrade is Fine for Bitcoin (Opinion)

The fact that Fitch downgraded the US government’s credit rating is not a problem for Bitcoin.

Fitch downgraded the U.S. government’s credit rating Tuesday, citing the national debt and deteriorating politics. Bitcoin is already looking good this year with the NFTs. But this really puts the shine on BTC.the United States’ rating down from AAA to AA+ this week. Only once before has this happened, when Standard and Poor’s docked America’s credit score.

U.S. Treasury Secretary Janet Yellen rattled back that Fitch’s tables are arbitrary and outdated. JP Morgan CEO Jamie Dimon called the U.S. downgrade “ridiculous” andBut this downgrade by one of the big three credit ratings agencies signals something important in the era of Bitcoin. That is, the dollar now has to hold its own against real market competition because of the Internet.In the 20th century, really big numbers were astronomical. Today more and more, it seems they’re economical.

Next to an increasingly lackluster savings instrument, one that promises to pay you back later in dollars whose value is TBD by central money supply managers, Bitcoin looks really attractive. Bitcoin offers savers, investors, and cash equivalent holders a supply-capped, deflationary currency to hold their money. Its global network of anonymous peers is relentlessly energetic about guarding the supply cap

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fitch downgrades US debt rating | CNN BusinessJUST IN: Credit rating agency Fitch has downgraded the US rating from its highest AAA rank to AA+
Source: CNN - 🏆 4. / 95 Read more »

Fitch slashes U.S. credit ratings to AA+ from AAA, points to ‘erosion’ of governanceFitch Ratings cut its top U.S. credit rating to AA+ from AAA on Tuesday, pointing to “erosion” of governance and the nation’s expected fiscal deterioration...
Source: MarketWatch - 🏆 3. / 97 Read more »

Here's how Fitch Ratings' U.S. downgrade could advance China and Russia's 'de-dollarization' agendaFitch Rating's decision to cut the U.S. government's credit rating represents the latest in a series of blows to the U.S. dollar's international standing and...
Source: MarketWatch - 🏆 3. / 97 Read more »

Bitcoin rises after Fitch downgrades U.S. debt ratingBitcoin on Wednesday briefly topped $30,000 to the loftiest level in more than a week, after Fitch Ratings late Tuesday downgraded its rating on the U.S.’s...
Source: MarketWatch - 🏆 3. / 97 Read more »