Crypto Influencer Warns Against Using Digital Assets as Hedge Against Collapsing Fiat Currencies\n\nOn this week’s episode of The Crypto Mile, host Brian McGleenon meets with Ben Armstrong, also known as BitBoy Crypto, to discuss the current economic landscape. The British pound and euro are struggling against a strengthening US dollar, leading some investors to consider using crypto as a hedge against collapsing fiat currencies.\n\nArmstrong warns that it may be too late for this strategy. He explains that the US dollar’s strength is due to the Federal Reserve’s aggressive stance on interest rates, which is unlikely to change. Additionally, the UK’s recent tax cuts and increase in borrowing have caused uncertainty for the pound.\n\nThese factors, Armstrong cautions against using digital assets as a safe haven. He emphasizes the importance of having a plan in place for hedging assets.\n\nArmstrong acknowledges that the crypto market has had its share of challenges, including crashes and hacks. He believes that learning from these experiences can ultimately lead to better decision-making in the future.\n\nIn other news, Google has partnered with Coinbase to offer crypto payments for cloud services, which has led to a slight increase in the price of Bitcoin. Bitcoin and other cryptocurrencies continue to show a correlation with US equity markets, such as the S&P 500 and Nasdaq.\n\nWhile some may see crypto as a potential hedge against collapsing fiat currencies, Armstrong warns that it may be too late for this strategy.