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]