Bitcoin is the best distraction from this financial collapse according to Jenny Johnson, President and CEO of Franklin Templeton.
She said that the current status of the economy is really dire, and bitcoin is “the finest diversion” from it. She also complimented blockchain technology as an excellent breakthrough that will soon have a good effect on a variety of businesses.
Franklin Templeton, a multinational investment company with approximately $1.5 trillion in assets under management, was founded in 1947. Along with conventional financial services, the organization also offers cryptocurrency choices.
Bitcoin Is The Best Distraction
The current economic crisis, according to Jenny Johnson, is the best disruption I see occurring to monetary providers at this time, she said in a recent interview. In her opinion, bitcoin, which many have referred to as a hedge against inflation and even as digital gold, could divert customers’ attention away from the problems.
Johnson, though, believes that governments won’t permit BTC to overtake other foreign currency options.
“It’s extra like faith, and individuals are going to debate it,” she argued.
The CEO contends that blockchain technology, however, will actually be a “game changer since she thinks it would have a pretty dramatic positive impact on virtually every industry.
Johnson then reassured consumers that Franklin Templeton continues to offer cryptocurrency services and has no plans to stop doing so.
Since the COVID-19 pandemic spread and caused a health catastrophe a few years ago, the entire world has been suffering. In addition to the millions of lives lost and the disruption of social life, the epidemic also had a negative impact on the world’s financial system.
To keep the economy afloat during the crisis, some central banks (most notably the US Federal Reserve) began creating enormous amounts of fiat money. But two years later, this procedure, together with a number of other factors, caused inflation rates to soar in practically every nation on the planet.
When Russian forces launched a purported “special military operation” in Ukraine in 2022, the situation only became worse. Nearly 25% of Ukrainians fled their war-torn country and settled abroad as a result of the conflict between the two countries.
The West, led by the USA, accused Russia and its president, Vladimir Putin, for the assault and severed its financial ties with the largest landlocked nation on Earth. Dubious Russian oligarchs and billionaires were also sanctioned under the guise of being part of Putin’s inner circle.
Russia, on the other hand, stopped supplying gas to some European nations, many of which lack other sources of energy. A contributing element to higher electricity prices is the fact that, when energy prices rise, practically all other prices do as well.
In times like these we really need a lot of distractions.
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