For years, the international financial system has been totally dominated by the US dollar. Which has become the main reserve currency worldwide, as well as the preferential currency for carrying out transactions in international trade. However, for crypto influencers like Anthony Pompliano, Bitcoin will be the next world reserve currency. As he commented in the Tweet of today:
Bitcoin as a world reserve currency
Since its inception, Bitcoin has struggled to become a viable alternative to fiat money globally. Thus, in the original design created by Satoshi Nakamoto, the objective of BTC was to become a currency that could be used to make payments anywhere on the planet. Presenting a decentralized alternative to fiat currencies like the US dollar.
However, for years the dominance of fiat has been unquestionable. Being impossible that cryptocurrencies like Bitcoin could become defiant of the world order established around the dollar. Which is starting to change recently, thanks to the increase in interest in Bitcoin, as well as in the price of the cryptocurrency.
In this way, today several crypto influencers are considering the possibility that Bitcoin can become the next world reserve currency. Especially if the adoption of the cryptocurrency continues to increase, and therefore its use becomes so common that even countries begin to acquire BTC.
«Decades ago, 44 countries got together and decided that the US dollar would be the world’s reserve currency. Today tens of millions of citizens have gathered and decided that Bitcoin will be the next world reserve currency.».
In this way, Anthony Pompliano would be suggesting that the massive entry of people and companies to the Bitcoin market will necessarily lead to the establishment of the cryptoasset as a world reserve currency. A development that, although possible, remains to be seen.