Inflation in the US has been a hot topic over the past year or two. Back in June, reports showed that inflation in the US had reached levels not seen in over a decade.
Other countries have experienced much worse inflation than that seen in the US. Venezuela, for example, saw 10,000,000% inflation in 2019. Interest in digital assets has grown in tandem.
In other countries that are suffering from more severe inflation or currency devaluation, such as Venezuela and Nigeria, people are using cryptocurrencies as a store of value."
Bitcoin is often described as an asset that stores value in the cryptocurrency industry, although logically, events such as the price crash earlier in 2021 undermine this narrative.
