I I bought this for my wife with cash.” The young man smiles as he holds up a picture of a mansion, then adds, “You can't beat the rich at their own game. The system is rigged and crypto It's the only way to hack it, the only way to tell the boss to go away." When I came out of the curse cryptocurrency conference in London in early December, my mind was spinning after witnessing hundreds of crypto enthusiasts articulate how intangible computer code can change lives and is about to change the world.
In my reverie, I pulled directly into the path of an oncoming limousine. The car doors opened and more novice cryptocurrency rich came out, dressed in tuxedos and smoking cigars. They were presented with the same common denominators as those of the conference. They were young, leaning more towards Generation Z than millennials; they wanted to remain anonymous; and they had recently become the recipients of life-changing wealth.
The sudden shock of the coronavirus pandemic in 2020 plunged the world into a deep economic recession and produced the worst rise in income inequality since the 2008 financial crisis. Central banks around the world turned to quantitative easing to resurrect the commercial activity that had been paralyzed by a succession of blockades. This only served to exacerbate the inflation of national currencies and forced a large number of retail and institutional investors to consider digital assets, such as bitcoin Y ethereal, as a hedge against inflation for the first time.
