The “Bitcoin replacement of the US dollar” as the global reserve currency view has become more and more accepted by financial experts. Not long ago, Rob Nelson, the host of Roundtable, and Sasha Mitchell, Head of Operations at BeL2, shared their views on how this change will affect the economy of the world.
Rob Nelson explained how huge this shift could be, saying that Bitcoin, as a decentralized currency, might bring balance to all major currencies. “This is a big deal,” he said. He also noted that while BTC is still in its early stages, its potential is something to watch closely.
Sasha Mitchell talked about the advantages of Bitcoin, like its ability to move easily and the fact that there’s a limited amount of it, which helps protect its value.
“It is lightweight and holds value because you can guarantee its scarcity,” Mitchell explained. He even proposed that probably in the future, the cryptocurrencies that are available will be gold or silver exchangeable.
The Economic Shift: Bitcoin as a Global Currency
They have also talked about the reasons why people should drop dollar-centered ideology. He mentions the very fact that each US dollar worth 1 US dollar will be worthless after spending only four years, with the blame being put on inflation which was over 25% of erosion.
He warned that the current financial system is not stable and that inflation is likely to keep worsening. On the political side, President Trump recently restated his plan to add new tariffs on goods from countries that are moving away from the dollar.
This is an area where he envisions tracing and how in his case these crypto coin and blockchain technology in general will bring about new and better ways of looking at the world or rationing resources.
He said that with the adoption of the crypto economic system where the currency will be backed by Bitcoin, it will help manage inflation and develop the market. “An internationally accepted and used bitcoin stablecoin will be a very real advantage to everyone,” he added.
The issues surrounding a global currency are becoming hotter especially when the issue of Bitcoin on its viability comes up.
Read More: Introduction to BTC Price: How Bitcoin’s Value is Determined?
