Part 5/16:
Bellagio aligns with Glenn on Bitcoin's disruptive potential but emphasizes that blockchain technology supports decentralization beyond currency. He points out that Bitcoin can serve as a counterbalance to hegemonic currencies like the US dollar, affecting geopolitics by diminishing solely the economic hegemony of certain nations.
He highlights Bitcoin’s role in reducing inequality, not by redistributing wealth directly but by enabling wealth preservation and protection from inflation, especially for the global poor. As inflation erodes savings—particularly those of less wealthy populations—Bitcoin offers an alternative store of value that can help build sustainable wealth over time.