Bitcoin promises financial freedom for states and central banks. But can cryptocurrency deliver on this promise? Attitudes to this are different. The ECO opinion.
“USA. does not defend freedom and that is a proven fact”
Nayib Bukele, cryptocurrency fanatic and questionable dictator, wants to establish a bitcoin bond to fill El Salvador’s treasury. The United States does not seem to be enthusiastic about this and is currently discussing a bill that would not recognize the legal status of Bitcoin in El Salvador.
Bukele is outraged and condemns the actions of the US.
The United States government does not defend freedom and that is a proven fact. So we will defend freedom.
Bitcoin is FU [Fuck you] money.
Bitcoin as a crisis savior? Blackrock CEO sees an opportunity for digital currencies
Larry Fink sees an opportunity in the ongoing conflict between Russia and Ukraine. As Reuters reports, the CEO of Black Rock wrote in a letter to shareholders that the crisis could pave the way for a digital currency system.
A well-designed global digital payment system can improve international transaction processing while reducing the risk of money laundering and corruption.
Larry Fink, CEO of Blackrock
Whether this digital payment system will be Bitcoin or another cryptocurrency remains open in the report.
Blythe Masters Bitcoin Skepticism
However, Blythe Masters, a member of the board of Credit Suisse, still doubts the acclaimed usefulness of the leading cryptocurrency by market capitalization. At the Asian Investment Conference 2022, he announced that he does not necessarily believe that cryptocurrencies can compete with fiat currencies.
To this day, I remain skeptical of many arguments as to why Bitcoin will eventually supplant fiat currencies and undermine banking.
Blythe Masters, Credit Suisse board member
Among other things, she justified her skepticism by saying that the argument that cryptocurrencies could serve as inflation-proof crisis protection did not convince her. This is mainly due to the large number of different cryptocurrencies.
Each individual cryptocurrency may have a limited supply, [aber] There are endless cryptocurrencies being invented right now. And I think that raises a fundamental question for me about the long-term inflation protection of cryptocurrencies.
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