Digital Gold - Bitcoin and its role in protecting assets during times of financial uncertainty and inflation
1971
The Bretton Woods system collapsed and the gold standard was completely abandoned. The focus shifted to paper currencies such as the US dollar as a means of storing value, thanks to its ability to maintain its value even in times of economic crisis. The Bretton Woods system, which linked the dollar to gold, collapsed. This decision freed central banks from the restrictions imposed by the gold standard, allowing them to print more money without having to maintain a gold reserve equivalent to its value. The prices of goods and assets, such as real estate, began to rise at an unprecedented rate. This inflation eroded the purchasing power of currencies, and it became difficult for people to maintain the value of their savings
