Money always flees to its hardest form suggests that when people lose trust in a soft currency—often because of inflation or economic instability—they will move their wealth into a hard, non-inflationary asset.
F.A. Hayek, the Austrian economist knew this. If you study the history of economics you’ll start to get an entirely different view of the modern US financial system.
F.A. Hayek didn’t predict Bitcoin. But in 1984, he made a clear argument: sound money would never return unless it was taken out of the hands of the government — not by force, but by creating an alternative that worked better. Hayek wasn’t imagining Bitcoin. He was describing a basic economic …
