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Ampleforth Presents: Friedrich Hayek Predicts The rise of Stablecoins, Bitcoin and Cryptocurrency� Some people argue that the fixed supply of BTC is its greatest strength and that the coin can simply increase in value to allow the money. Such large crypto multipliers help to explain the high price elasticities of investors' demand for cryptocurrencies found in empirical work (Divakaruni and. There is no elasticity of credit to absorb pressure on price, so defense of par on-chain requires what amounts to large on-chain monetary reserves. Defense of.