US Senator Rand Paul recently commented that as individuals lose confidence in the government institutions, BTC might benefit and spring up to become the world’s reserve currency.
“I’ve started to question now whether or not cryptocurrency could actually become the reserve currency of the world as more and more people lose confidence in the government.”
Allegedly, Paul has never publicly endorsed any digital asset other than BTC. Paul commented that Bitcoin might become the reserve currency of the world if more individuals lose trust in the government.
Notably, he accepted Bitcoin donations in his 2016 campaign. The Republican Senator was interviewed on Axios, talking over the future of BTC and fiat currency in the United States.
The Senator mentioned,
“The government currencies are so unreliable — they’re also fiat currencies. They’re not backed by anything. “I’ve started to question now whether or not cryptocurrency could actually become the reserve currency of the world as more and more people lose confidence in the government.”
Paul was however not specific about which virtual asset he was referring to in the interview, he has allegedly not publicly endorsed any cryptocurrency other than Bitcoin, suggesting he was probably referring to Bitcoin itself. However, no specific details were given by him regarding which crypto he was talking about.
What do you think about the aforementioned development in the crypto sphere. Let us know in the comments below!
Image by Muhammad Salman from Pixabay
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