The recent correction in Bitcoin has created a familiar debate. Is it a worthless speculative asset or a true monetary alternative? At $67,000, the price may be volatile, but it is hardly worthless.  Bitcoin may be both a warning and an opportunity. It remains a strong hedge against the destruction of fiat money and financial repression for many citizens in the world, but it is also a volatile asset that can damage investors who believe its price can only rise.  For many investors, the recent correction in bitcoin is a concern. However, this is only if we look at bitcoin in US dollars, euros or world reserve currencies. For citizens all over the world, from Cuba to Iran, suffering the elevated inflation and currency demolition created by their governments, bitcoin is certainly a haven. The huge growth in bitcoin’s price over the past few years shows that many investors have lost faith in fiat currencies and the solvency of states that are getting more in debt.  Bitcoin and gold are showing that purchasing power is going down in a way that official CPI inflation measures aim to hide. Global money supply is rising faster than nominal GDP, and governments are reliant on deficits and financial […]