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WEEKLY CRYPTO investment journal
Former Canadian PM says Bitcoin can be one of the world’s reserve currencies
Stephen Harper sees Bitcoin alongside gold and the US dollar as a viable global reserve asset.
Bitcoin to the moon Bitcoin proponents must be so excited after a blockbuster year. The asset saw widespread adoption by investment funds, traditional finance participants, family offices, and tech funds, and set new alltime highs in December, a figure that was over 100% higher than its previous value. Now, there’s a new evangelist on the block, and it’s the former Canadian prime minister Stephen Harper. In an interview with Jay Martin, president of investment service Cambridge House, at the Vancouver Resource Investment Conference on Sunday, Harper said that Bitcoin was fit to be counted along with other hard assets like gold. However, this didn’t mean that the US dollar was losing its prominence anytime soon. “Other than gold, [and] Bitcoin…I think you’ll see the number of things that people use as reserves will expand, but the U.S. dollar will still be the bulk of it,” Harper stated, when asked about the current state of the global financial market and which assets could make it to “reserve” status.
“It’s hard to see what the alternative is to the U.S. dollar as the world’s major reserve currency,” he noted. Read more...
Cryptonaire Weekly | January 19th 2021
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