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The economic situation in Europe is worse than that in the US, with inflation in the UK still at 10.4%. This is a stark contrast to the US, where inflation is currently at 2.3%. The financial guardrails established in 2008 are not as high as those in the US, meaning that the European economy is more vulnerable to economic shocks.
The situation in Europe is further complicated by the fact that the Eurozone is made up of 19 different countries, each with their own economic policies and regulations. This makes it difficult to coordinate a unified response to economic shocks, and makes it harder for the European Union to respond to economic crises.
The situation in Europe is likely to get worse before it gets better. With the US economy continuing to recover, the European economy is likely to lag behind. This could lead to further economic instability in Europe, and could lead to a further wave of Bitcoin adoption.
Bitcoin has been gaining traction in Europe, with more and more people turning to the cryptocurrency as a way to protect their wealth from economic uncertainty. Bitcoin is seen as a safe haven asset, and its decentralized nature makes it attractive to those looking to protect their wealth from government interference.
The situation in Europe is likely to get worse before it gets better, and this could lead to a further wave of Bitcoin adoption. With the US economy continuing to recover, and the European economy lagging behind, Bitcoin could become an increasingly attractive option for those looking to protect their wealth from economic uncertainty.
Uk is not part of europe (any more, sadly), or the euro. we’re especially fucked. The european union seems to be doing a little better (the french riots are because they want to raise the state pension age from 62 to 64! In the uk it’s 67)
Inflation is higher as we import a lot of our energy, but the banks are in a much stronger position than the US ones.
Just look at thier tier 1 capital vs US banks.
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Shame UK isn’t Europe anymore
I’m guessing they’re lying about the 10% and it’s more like 15%, because we know our Government is lying about the US inflation
It’s more like 20%, btw.
Bitcoin forever
Inflation at 10%
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BTC lost 60% of it’s value within the same span.
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I think I’d stick to fiat, stocks, and real estate and lose 10% compared to a 60% loss. I love me BTC, but this ‘inflation hedge’ mindset is just bullshit. If it was an inflation hedge, why’d it fall 60% during the time when inflation was running the most rampant?
Serious question: If BTC goes to 1M isn’t it possible that it will actually be worth far less than it is today at 28k when the USD is completely worthless?
RPI inflation in the UK is actually 13.8%. I would ignore CPI in the UK because that index excludes housing which is most people’s major expense.
RPI is also the historical measure of inflation for the UK. CPI was invented during the housing bubble because housing was making inflation look bad! 🤣
From what I read, the banks are closing down fiat to crypto channels, or severely limiting volumes.
They are clearly afraid of a run to safety.
the UK is not all European countries but ok