Bitcoin will displace US dollar as global trade unit of account, cryptocurrency expert tells RT’s Keiser Report
Max Keiser and Stacy Herbert look at the statement from Larry Fink, chairman and CEO of the world’s biggest money-management firm BlackRock, who says the US dollar could be less relevant in a bitcoin world.
Max also talks to cryptocurrency expert Vijay Boyapati, asking him if the greenback could be replaced by bitcoin.
“I think it absolutely will,” Boyapati says, explaining that “Nations across the world want to reestablish the world as it used to be on a monetary base which is not controlled by any nation.”
The crypto expert adds that nations worldwide “resent the exorbitant privilege that the US has in controlling the world’s reserve currency, that allows the US to inflate away the savings of the rest of the world and benefit because of that, and to fund the US empire.”
Geopolitically, a neutral monetary base is good for the whole world as it is useful to have something that can’t be manipulated by one country, says Boyapati. He notes that countries like Venezuela and North Korea that are “particularly vulnerable to being cut off the global financial system” will appreciate it most.
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