Dying Financial System Makes A Case For Crypto Adoption, Argues Voorhees

Are The Failing Financial System Creating Way For Crypto Adoption?

Financial systems are falling apart across the world and that could be the path for crypto adoption.

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In one of his latest tweets, founder of ShapeShift, Erik Voorhees has explained how the current financial system paving a way for crypto.

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Failed monetary policies have led to inflation in countries like Argentina and Albania, China and Sri Lanka.

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Many people hold crypto currencies today. Speaking of weaker currency countries, US dollars look like virtuous stable hard money hence people won't shift from their local currency to Bitcoin tomorrow, Voorhees tweeted.

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As countries pass currency controls laws to prevent their citizens from accessing dollars, people will learn to gain exposure through USDC and other stables.

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According to Erik, this will promote the transition from centralized currencies to DeFi.

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This will eventually motivate people to quickly grasp the working of crypto.

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