Bitcoin: The Codification of the Austrian View of Money

Published on
June 11th, 2021
Duration
53 minutes


Bitcoin: The Codification of the Austrian View of Money

The Interview - Crypto ·
Featuring Ash Bennington and Guy Swann

Published on: June 11th, 2021 • Duration: 53 minutes

Real Vision senior editor Ash Bennington welcomes Guy Swann, host of Bitcoin Audible, to discuss his background in cryptocurrency, views on Austrian economic theory, and thoughts on El Salvador's adoption of Bitcoin. Making his first investment in 2011, Swann was an early believer in Bitcoin's power to revolutionize the financial world. Swann argues that the principles explained in Austrian economic theory support a bullish outlook on the future of Bitcoin. Furthermore, Swann believes that El Salvador's adoption of Bitcoin sets a precedent for developing countries looking to gain monetary independence. As more countries adopt Bitcoin as legal tender, Bitcoin's volatile prices will stabilize, which supports the argument that Bitcoin can act as a currency. Filmed on June 9, 2021. Key Learnings: Swann argues that Bitcoin will disrupt finance in the same manner that the Internet changed the flow of information. The decentralization that results from using Bitcoin will allow overlooked segments of the global population to gain access to a financial system that is protected from central bank influence and politics. As the financial world undergoes a transformation, Swann states that volatility in Bitcoin’s price is expected until there is widespread adoption by sovereign nations.