Another high-profile bitcoin enthusiast is Senator Rand Paul, who believes that the currency will eventually replace gold as the world’s reserve currency. He points to the limitless nature of fiat money and bitcoin’s finite nature as potential causes for the global monetary shift.
- A US lawmaker has declared bitcoin to be the world’s reserve currency, over all others.
- The United States dollar is currently the world’s reserve currency, but it has its own peculiar issues that render it replaceable.
- In 2016, the Senator revealed to have taken bitcoin as part of his reelection campaign.
Bitcoin era: It can be the World’s reserve currency?
For decades, the US dollar has held the title of world’s reserve currency. Countries around the globe have amassed a lot of assets, but Senator Rand Paul thinks this trend will soon come to an end. He claims that Bitcoin will replace the dollar as the global reserve currency.
“The government currencies are so unreliable – they are also fiat currencies. They are not backed by anything… More and more people lose confidence in the government.”
– Senator Rand Paul
Bitcoin’s aim to become the world’s reserve currency is gaining momentum in recent months. The asset’s journey to the center stage is being shaped from the outside, and it is being bolstered by a slew of factors.
