Fiat inflation drives crypto adoption across the globe
Global inflation has slowed down, but in many countries, crypto is still providing an attractive and viable alternative to the local monetary system.
Countries around the world are grappling with inflation, and in many places, investors and everyday savers are turning to crypto to protect their savings.
The early 2020s saw a sharp uptick in global inflation rates amid government stimulus programs during the COVID-19 epidemic. Supply chain disruptions led to increased costs for businesses, and food and energy prices rose following Russia’s war in Ukraine.
Central banks responded aggressively, hiking interest rates and easing pressure on supply chains. As a result, inflation rates have somewhat calmed in the last two years.
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