Better Than the Dollar, Safer Than Gold?

Silicon Valley is fighting its war with Wall Street on multiple fronts using a variety of purpose-built weapons. They keep their cash away from the financial mainstream using banking and trading apps like Square and Robinhood. They skip the usual fees of taking their companies public by partnering with special purpose acquisition companies (SPACs). And they’re avoiding banks altogether by creating their own medium of exchange — Bitcoin. Clearly they see it as a better alternative to the U.S. dollar. For one thing, James Altucher tells us, “the supply is fixed, unlike the U.S. dollar.” Once all the Bitcoins are “mined,” there will be no more supply.