- Jordan Peterson believes that inflation punishes people who think long-term.
- Bitcoin could be the solution to such problems.
The ability to save is an essential tool for self-regulation and future planning. But when inflation becomes uncontrollable, those who think long-term will be punished for their decision. Bitcoin (BTC) does exactly the opposite, according to clinical psychologist Jordan Peterson.
In a show called What is Money? Peterson spoke with Bitcoin entrepreneur Robert Breedlove about money and discussed with him the effects of fiat inflation on people who forego an immediate reward, and to what extent Bitcoin gives hope for the future.
According to Peterson, hyperinflation is a pity for those who are patient and save for the future. He referred to these people as the “pillars of our society” and Peterson argued that these people were essential to the safety and survival of civilization. He explained that:
“They want to encourage people to believe in the future and make decisions that make postponing the reward morally commendable and intelligent. Inflation is hurting these people.”
Peterson stressed that the market is being distorted by inflation. He is interested in Bitcoin, among other things, because there are no such distortions or disturbances in it. Cryptocurrencies allow a free market, according to the psychologist.
He further explained that Bitcoin could be an instrument that allows society to adapt to what he calls the horizon of the future. “He’s the only damn tool we have. Unless you think the central planners can do that. Good luck with that. That’s just not going to happen,” he explained.
In this context: PayPal founder Peter Thiel defends Bitcoin against Warren Buffett
Peterson entered the Bitcoin space in 2019. It was then that he began accepting BTC donations after turning away from the subscription platform Patreon due to problems with freedom of expression. The author of the book “12 Rules of Life” has been inviting Bitcoin supporters to his podcast since 2021 to talk to them about BTC and learn more about the cryptocurrency.