Ex Canada Prime Minister Sees Bitcoin As Potential Future Currency Reserve

Ex Canada Prime Minister sees bitcoin as potential future currency reserve. Economist and the former prime minister of Canada, Stephen Harper shared that bitcoin could possibly be seen as a reserve currency. However, it isn’t going to supplant the U.S. dollar’s international role.

In an interview with Cambridge House’s Jay Martin on Sunday, Harper admitted that the dollar is on a downward trajectory, but added that, even when looking at the euro and the yuan, there are few viable foreign alternatives.

Harper said “Unless the U.S. becomes a catastrophe, it’s hard to see what the alternative is to the U.S. dollar as the world’s major reserve currency. Other than you know gold, bitcoin, … a whole basket of things, right? I think you’ll see that the number of things that people use as reserves will expand, but the U.S. dollar will still be the bulk of it.” 

“Ultimately, if you have a digital currency and the purpose of the central bank is to control inflation and create a stable currency and price stability, then digital currency is just kind of an evolution of the marketplace,” he said. “But if it is part of a series of what I think are wild experiments as to the role of central banking, then that worries me a lot.”

[image: Sebastian Stam]

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