The ability to save is an essential tool for self-regulation and planning for the future, but when inflation becomes uncontrollable, those who try to delay gratification are punished for their choices. On the other hand, according to clinical psychologist Jordan Peterson, Bitcoin (BTC) does the opposite.
the show is called What is money?Peterson joined bitcoin entrepreneur Robert Breedlove to talk about money and the effects of fiat inflation on those who shun instant gratification and how bitcoin offers hope for the future.
According to Peterson, hyperinflation hurts those who are patiently working and saving for the future. He described these people as “pillars of our society” and Peterson argued that these people were vital to the security and survival of civilization. He explained that:
“You want to encourage people to have some faith in the future and make decisions that make delaying gratification morally plausible and wise. Inflation hurts those people.”
Peterson highlighted that inflation is distorting the market, one thing that has made him interested in bitcoin is that there is no such distortion or interference. According to the psychologist, cryptocurrency enables a free market.
He further mentioned that BTC could be a tool that enables society to build what he describes as the horizon of the future. “It’s the only bloody tool we have. Unless you think the central planner is going to manage it. Good luck with that. It’s just not going to happen,” he said.
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Peterson dived into bitcoin in 2019 when he started accepting BTC donations after leaving the subscription platform Patreon due to free speech issues. The 12 Rules of Life author has also been trying to understand bitcoin since 2021, inviting BTC supporters to his podcast and discovering more about the cryptocurrency.
