Human Rights Foundation says 1.2 billion people are experiencing double-digit inflation, many looking to Bitcoin as a solution

Human Rights Foundation says 1.2 billion people are experiencing double-digit inflation, many looking to Bitcoin as a solution

While central banks are focused on creating more stimulus and economists expect inflation to rise in the United States, some other countries are now suffering from considerable inflation. On Monday, Alex Gladstein, chief strategy officer of the Human Rights Foundation (HRF), explained that 1.2 billion citizens around the world are experiencing double- to triple-digit inflation.
In the last week, some analysts and economists have been discussing the possibility of rising inflation in the United States, mainly because of the large amount of stimulus measures passed by the government in 2020 and 2021. This has led economists to believe that inflation in the United States will arrive soon because the Federal Reserve has been backed into a corner and plans to maintain its aggressive quantitative easing strategy.
Inflation is the loss of purchasing power of money for goods and services over time. Inflation can be measured by looking at the purchasing power of money over a recorded period of time.

For example, an inflation calculator can tell Americans how much the dollar has lost in purchasing power since 1913, the year the Federal Reserve was founded. According to the data, if a person spent $20 to buy an item in 1913, the same service, product or item would cost $528.45 today.
That is, in 107 years, the cumulative inflation rate reached 2542.2%. However, according to 2021 data from worldpopulationreview.com, the annual inflation rate in the United States is only 1.50%. According to current statistics, the inflation rate in the United Kingdom is also roughly the same as that in the United States.
1.2 billion people in the world are experiencing double to triple digit inflation in the United States. Compared to many other countries in the world, the inflation rate in the United States is insignificant. Alex Gladstein, chief strategy officer of the Human Rights Foundation, highlighted the issue in a series of tweets on Monday. Gladstein is also a supporter of Bitcoin and has been an evangelist for this leading crypto asset for quite some time.
"Many people may believe that extreme inflation is a rare phenomenon in today's world," Gladstein told his 27,000 Twitter followers on Monday. "That is simply not the case. 1.2 billion people currently live in countries experiencing double-digit or triple-digit inflation," Gladstein insisted.

The Human Rights Foundation team then listed 11 countries with inflation rates between 10% and 20%, including Haiti, Nigeria, Turkey, Sierra Leone, Uzbekistan, Guinea, Liberia, Pakistan, Kyrgyzstan, Ghana and Tajikistan. The HRF members' statistics can be compared with the 2021 list of inflation rates for countries on worldpopulationreview.com.
Gladstein also listed 10 countries with "inflation rates above 20%." The list includes Ethiopia, Zambia, Libya, Congo, Angola, Yemen, South Sudan, Argentina, North Korea and Cuba, Gladstein wrote.
Gladstein also listed six countries with inflation rates above 50% on Twitter. The six countries listed by the HRF member include: Iran, Lebanon, Syria, Sudan, Zimbabwe, Venezuela "It is difficult to get good inflation data for most countries," Gladstein added. "This analysis was done comparing a few top sources. Some countries vary greatly. Many more countries are experiencing revolutions/coups and are experiencing currency shocks, but it is difficult to find fresh data," said HRF Chief Strategy Officer. Gladstein insisted, "It is clear that some governments have fabricated economic data and the situation on the ground is far worse than they report."

“At the end of the day, there are over a billion people whose currency is rapidly devaluing,” Gladstein concluded. “Many have found new opportunities in Bitcoin.”
Comparing Gladstein's analysis on Twitter with data from worldpopulationreview.com and some other monetary inflation aggregators shows that his data is reliable. This means that the purchasing power of the 1.2 billion inhabitants of the planet is being eroded much faster than in the United States or Europe.
The decline in purchasing power in these countries has forced global citizens to look for new security measures. In contrast, many of these countries with inflation rates of 20% or even above 50% have seen Bitcoin (BTC) prices reach all-time highs, or even global premium highs, indicating that the demand for BTC in these regions is much higher.