Can bitcoin save Western pension plans?

If Bitcoin is a long-term hedge, then there should be more savings and pension-like programs for passive investing in it.

Originally published in Worth.

There is this strange idea that with each new financial crisis, it becomes clearer that the naked emperor is, in fact, naked. In 2020, when world leaders unveiled, yet again, trillions of dollars of quantitative easing (QE) — just like after the 2008 global financial crisis — to avert the impending economic disaster, people were reminded once again how the centuries-old money-printing banking apparatus works. There is nothing new about monetization of debt — the first among central banks, the Bank of England, was founded by institutionalizing it — but it is not necessarily obvious, nor easy to understand, to a regular Joe.

Until it is.

The growing realization that the global financial system is somewhat illusory, in combination with lockdown boredom and stimulus checks, has propelled the price of Bitcoin to all-time highs and fueled the meme-stock crypto craze. And despite its large pullback this year, Bitcoin has attained a new place in the public consciousness: the perfect inflation protection, the denominator of all fiat currencies. If you get nervous about the…