By EWN • 22 October 2022 • 11:05
Lizz Truss has resigned from her term as Prime Minister of the United Kingdom. This will come as no surprise to many, who have seen not only Liz Truss but the whole Conservative party as instigators of nothing but political chaos in the UK. Lasting a mere 44 days, Lizz Truss will hand over her Prime Ministership to a new leader within 7 days.
The value of the pound capitulated following the news of Lizz’s mini-budget, hitting an all-time low since 1982. As an institutional and national currency, this was devastating news and gave confluence to the value of Bitcoin as a global currency, reserve and store of value. This budget, however, as well as other policies she intended to implement have now been U-turned and this gave some relief to the value of the pound.
However, with this absolute uncertainty, the value of the pound could go anywhere and does not necessarily deserve to be held in these uncertain times. This idea does not extend only to the UK, however. Many major currencies are facing large scrutiny at present and could be subject to volatile price action. With this in mind, we are left staring at one very viable option. Buy Bitcoin.
What inhibits the stability of a currency limited to one nation is that it is directly correlated to the performance, strength and stability of that particular nation. In the pound’s case, it is the United Kingdom.
The very opposite can be said for Bitcoin, the renowned ‘king of crypto’. Bitcoin was established by an unknown individual for the use of everyone. These two facts are fundamental to the future adoption and success of the BTC token. We established above that the reason the pound’s value has been so volatile of late is due to the political and economic turmoil prevalent in the UK over recent months.
This problem can be associated with Bitcoin. As a P2P digital currency with an ever-increasing level of institutional backing Bitcoin belongs both nowhere and everywhere. Anyone can create a Bitcoin wallet, buy, sell or transfer funds anywhere on the planet. While it is true that all modern-day blockchains can do this, none have the level of security and social adoption that bitcoin does as a store of value. It is important to note that one of the key reasons for this is due to the lack of identity associated with the founder of BTC.
The creation of Bitcoin under a pseudonym – Satoshi Nakamoto – and with the creator (or creators) not being heard from since 2010. Satoshi installed a fixed supply of tokens that could ever exist into the source code of Bitcoin which is thus enforced by the nodes on its network. Ultimately, there can never be more than 21 million Bitcoin tokens, making it the perfect investment in times of economic and financial turmoil.
While Bitcoin makes a great long-term store of value, the return on investment is unlikely to make you the riches any avid crypto enthusiast is likely after. Many investors advise a large portion of your portfolio to be allocated to BTC, a very sound approach towards cryptocurrency investments.
However, Big Eyes Coin, the cutest new meme coin with a fixed token supply has been ramping up its activities and enjoyed great success early on its presale. The reason behind this? Its fixed (and relatively small) token supply. With only 200 billion tokens, a small number compared to other established meme coins, to ever be released, Big Eyes looks set to take on the meme coin industry.
Amid the bustle of financial fears, Dogecoin has an unlimited total supply of tokens and Shiba Inu has over 999 trillion (yes trillion) tokens. Invest in a project which adds and creates value and wealth for those who hold its token. Invest in Big Eyes while its presale is still early and is yet to launch on a major exchange.
Big Eyes Coin (BIG)
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don’t already have one. Review our
Your email address will not be published. Required fields are marked *
Download our media pack in either English or Spanish.