Summary of the FT’s Three Articles“The fatal flaw in using bitcoin as a currency” Argues that Bitcoin’s fixed (or deflationary) supply becomes a catastrophic liability during price crashes: deflation can turn into hyperinflation of prices measured in BTC (annualized rates as high as 900% in sharp drawdowns). Unlike central banks, Bitcoin cannot shrink supply to fight inflation, making its “downward supply inelasticity” a structural death sentence for any real-world currency use.“Infinite mone...
