Bad news is that the general cost of living is on the rise while earning, mostly for those at the base of the pyramid, are stagnant. A twitter user worryingly notes that the cost of essential items is up 55 percent and this state of “hyperinflation”, it’s the ordinary who are bearing the brunt. As inflation and value erosion becomes a normal, benefits of Bitcoin and similar store of value global digit assets will become more attractive in days ahead.
According to a cryptocurrency enthusiast and software developer, Lyle Pratt, inflation is up by more than 55 percent. For this reason, he believes that it is time for plan B, which is the adoption of Bitcoin. The use of Bitcoin as a store of value could cushion the effect of inflation which seems to have affected the most important aspects of our lives.