Former Canadian Prime Minister Stephen Harper believes bitcoin could become an alternative to the US dollar as a global reserve currency.
Harper noted that the US dollar is losing ground, and digital currencies, including bitcoin and government cryptocurrencies, may gradually replace the US dollar as the world’s reserve currency. Separately, he drew attention to the development of digital versions of the euro and the Chinese yuan, although he expressed doubts that these assets would become the world’s reserve currencies.
“It is difficult to imagine an alternative to the US dollar as the world’s reserve currency other than gold and bitcoin. However, I think that this list will expand, although the US dollar will remain the main reserve currency, ”said the former Canadian Prime Minister.
Harper also expects government cryptocurrencies to flourish in the near future. However, he fears that such currencies could transform the central banks of some countries from a financial regulator into a “banking monopoly.”
“In general, the aim of the central bank is to control inflation and ensure a stable currency. And digital currencies facilitate this task, this is a kind of market evolution. But digital currencies can change the role of central banks and that worries me very much, ”Harper said.
In early December, Larry Fink, CEO of BlackRock investment company, said that Bitcoin is putting real pressure on the US dollar, as it makes it less important in the international market for long-term investors.
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