BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

Macroeconomist Claims Bitcoin Could Offer “Economic Boost” to the United States, Here’s How

BlockNews Team by BlockNews Team
October 2, 2022
in CRYPTO, FINANCE, INVESTING, MEDIA
Reading Time: 4 mins read
1
SHARES
10
VIEWS
Share on XShare in TelegramShare on Reddit

Discussions on how cryptocurrencies affect the global economic market have been ongoing, but only now has the debate on how cryptocurrency can boost the market picked up speed. With the ability to digitally affect social and economic standings, the United States of America will benefit from this “Economic Boost.”

Many lawmakers and members of Congress view cryptocurrency as a threat to the country’s current fiat currency standard.

What Macroeconomist Luke Gromen Has To Say

Luke Gromen is a well-respected figure in the financial research sector, with his ability to comprehensively analyze global and topical macroeconomic trends. 

According to Gromen, the United States’ economic rivals China and Russia choosing to stockpile gold instead of investing in cryptocurrency can be a significant advantage to the U.S. Gromen made this statement on the podcast hosted by Natalie Brunell on the 14th of September 2022.

The economist claimed, “We would have an economic boom.” The United States needs to view cryptocurrency as a benefit rather than a threat.

The Benefits of Cryptocurrency

With the infrastructure to handle cryptocurrency already in place, the benefits of the United States investing in the crypto market are high. The transaction fees are low using cryptocurrencies, and the transaction times are nearly instant; therefore, if the state needs funds or needs to pay something, it can do so quickly and efficiently.

When the United States is dealing with a poorer or a developing country, if both parties use cryptocurrencies can be used as a safe and trustworthy way for transactions.

Cryptocurrency a Threat to U.S Dollar

With Biden’s administration recently becoming more active in controlling the movement of cryptocurrency, congressman Brad Sherman is worried the U.S dollar will no longer be the benchmark currency.

Mr. Gromen has also expressed his views that bitcoin can threaten the U.S Dollar; however, he states that it will likely not happen, and the United States should invest in cryptocurrency.

As society moves toward a digital-inclusive lifestyle, it may be beneficial for the United States to risk investing in cryptocurrency.

Purchasing Power of The U.S Dollar

According to in2013dollars.com, the U.S dollar had the highest purchasing power since back in 1913 and has slowly been weakening as the years have been going on. The U.S dollar has had an average of 3.17% inflation from 1913 to 2022, meaning that if there weren’t any inflation, $1 would equal $29. With 2021s inflation hitting 4.7%, and so far 2022 inflation being around 8.26%. The inflation of the U.S dollar will bring the “real price” of the U.S dollar, which will lower the purchasing power of the U.S dollar.

For example, one million dollars in 1913 will be the value of 29 million dollars in 2022. 

Can Cryptocurrency Help The U.S Citizens

Cryptocurrency exchange can be transparent with transactions as it is all digitized and tracked with a distributive ledger. This will allow citizens to see how much state funds are spent and what their tax money is allocated for. This transparency can help fight against corruption and fraud, which is present in politics today.

Another way cryptocurrency can help citizens is that it can help with payments for entrepreneurs. Quick and easy payment will help these small businesses grow, increasing profits. With higher yields, wealth can spread in communities as more people can get jobs and pay for goods, leading to more money for The United states from taxes.  

With today’s society moving more into a digital age, any government with a headstart in investing in cryptocurrencies can have a significant economic boom. 

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: BitcoinBlockchaincryptoWeb3
TweetShareShare
BlockNews Team

BlockNews Team

DON'T MISS THESE! HOT OFF THE PRESS

XRP and Dogecoin ETFs Launch in U.S. – Here’s Why Investors Are Watching Closely
CRYPTO

XRP and Dogecoin ETFs Launch in U.S. – Here’s Why Investors Are Watching Closely

September 18, 2025
Shibarium Hack: $4.1M Exploit Forces Bridge Shutdown – Here’s What You Need to Know
CRYPTO

Shibarium Hack: $4.1M Exploit Forces Bridge Shutdown – Here’s What You Need to Know

September 18, 2025
Dogecoin Breakout Alert: Can DOGE Really Soar 111% By September’s End? Here’s What You Need to Know
CRYPTO

Dogecoin Breakout Alert: Can DOGE Really Soar 111% By September’s End? Here’s What You Need to Know

September 18, 2025
Ripple CEO Drops Bombshell: XRP Could Join White House Crypto Stockpile and ETF Approval Soon
CRYPTO

Ripple CEO Drops Bombshell: XRP Could Join White House Crypto Stockpile and ETF Approval Soon

September 18, 2025
Solana Faces “Most Important” Sell Wall Amid Whale Sell-Off Concerns
CRYPTO

Solana Faces “Most Important” Sell Wall Amid Whale Sell-Off Concerns

September 18, 2025
Polygon Takes the Lead in RWA Market With $1.1B Locked, Dune Report Reveals
CRYPTO

Polygon Takes the Lead in RWA Market With $1.1B Locked, Dune Report Reveals

September 18, 2025
Load More

Related News

XRP and Dogecoin ETFs Launch in U.S. – Here’s Why Investors Are Watching Closely

XRP and Dogecoin ETFs Launch in U.S. – Here’s Why Investors Are Watching Closely

September 18, 2025
Shibarium Hack: $4.1M Exploit Forces Bridge Shutdown – Here’s What You Need to Know

Shibarium Hack: $4.1M Exploit Forces Bridge Shutdown – Here’s What You Need to Know

September 18, 2025
Ripple’s RLUSD Explodes 10x as DBS, SBI & Templeton Unveil Tokenized Yield System – Here’s What It Means for Investors

Ripple’s RLUSD Explodes 10x as DBS, SBI & Templeton Unveil Tokenized Yield System – Here’s What It Means for Investors

September 18, 2025
XRP Price Prediction September 2025: Will Ripple’s Token Follow BNB to New Highs? Here’s What You Need to Know

XRP Price Prediction September 2025: Will Ripple’s Token Follow BNB to New Highs? Here’s What You Need to Know

September 18, 2025
Dogecoin Breakout Alert: Can DOGE Really Soar 111% By September’s End? Here’s What You Need to Know

Dogecoin Breakout Alert: Can DOGE Really Soar 111% By September’s End? Here’s What You Need to Know

September 18, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews