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Alexis Ren: dollar-based economy is collapsing, Bitcoin (BTC) and other cryptocurrencies are a viable alternative

Sun 21 Nov 2021 ▪ 19h05 ▪ 3 min read — by James Taylor

Social media personality and model Alexis Ren who currently has 15 million followers on Instagram speaks out about her attitude to Bitcoin (BTC) and other cryptocurrencies.

Instagram star is going into crypto

Business Insider discussed crypto investments with Alexis after she said that the US economy is based on lies. “I think the economic structure we have been living on is a lie and it’s delusional and it’s just an agreement and so we need to find something better, and I think Bitcoin and cryptocurrency is that,” Ren explained in her Youtube video.

The Instagram star told a Business Insider reporter that inflationary devaluation of the US dollar is a real problem. The model claims that the current economic system is “going to fail”, which is why, more and more people find themselves caught up in the vicious cycle of debt. “I know that but we’re in debt, so we’re trying, we’re printing more money to pay back debt and then we just keep accumulating more debt. It’s a black hole,” she said.

In her interview, Ren expressed her faith in crypto and non-fungible tokens (NFTs). The model is also the founder of Yourstage.io – a tech platform that allows people to host videos, meetings, and classes for mentor-driven learning. She hopes that her company will switch from a cash subscription model to an NFT access model in the near future. Concluding the interview, Ren recommended investing “a little” money in cryptocurrencies every month, “and then forgetting about it”.

Analysts on US economy

A plethora of analysts and economists have stated that the US economy is currently facing an uncertain future. In October, the US public debt ceiling exceeded $28 trillion. In the light of the situation, Joe Biden signed legislation temporarily raising the government’s borrowing limit to $28.9 trillion, pushing off the deadline for debt default till the beginning of December.

Finally, Joe Biden’s 2022 budget proposal involves several new crypto reporting requirements, such as additional requirements around information financial institutions must report to the Internal Revenue Service (IRS) and other departments.

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James Taylor avatar
James Taylor

Trends are temporary. The blockchain isn’t a trend; it’s the future. I want to help as many people as possible understand it in a simple, clear and interesting way.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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