Former Canadian Prime Minister Says Bitcoin May Become Reserve Currency

Former Canadian Prime Minister Stephen Harper says bitcoin may soon become an alternative reserve currency.

Speaking at an investment conference, he said that only a major national currency such as the euro or the yuan can replace the US dollar as the main RV. However, due to uncertainty about the long-term value of the former and the methods of maintaining the rate of the latter, this is unlikely.

At the same time, Stephen Harper believes that in the near future the basket of reserve currencies will expand, and in addition to gold and other valuable assets, Bitcoin can be included in this list. Adding that while the primacy of the US dollar is not threatened.

Former Canadian Prime Minister Says Bitcoin May Become Reserve Currency

The ex-prime minister also said that the emergence of digital currencies of central banks is an inevitable stage of market evolution, but the extent of their distribution and the level of integration will depend on the decisions of global financial institutions..

Stephen Harper’s words are in line with forecasts by JPMorgan Chase analysts, who noted in a December report that the gradual recognition of bitcoin as a reserve asset has a direct impact on the gold market, lowering its price..

text: Ivan Malichenko, photo: iStock

Similar articles