American senator and one of the participants in the 2016 presidential election, Rand Paul, believes that bitcoin looks more attractive as a global reserve currency than the US dollar.
“State currencies are extremely unreliable. I started to wonder if cryptocurrencies could become the world’s reserve currencies. Especially as many residents are losing confidence in their governments, ”Rand Paul told Axios.
Paul is part of a group of senators with a positive attitude towards cryptocurrencies. Back in 2016, he accepted Bitcoin donations to fund his campaign. As the host of the interview, Mike Allen, emphasized, after that Paul became “a real star among young people.” Indeed, at that time, accepting donations in bitcoins was rare.
US Federal Reserve officials are also worried that Bitcoin or other cryptocurrencies could replace the US dollar as the world’s reserve currency. In a recent report, the heads of the Fed’s international finance department noted that cryptocurrencies could challenge the dominance of the American currency in the long term.
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