Crypto Can Eventually Replace the Dollar As “The Reserve Currency of the World,” says US Senator Rand Paul
Senator Rand Paul (R-Ky.) sees cryptocurrency replacing the US dollar one day because more and more people are losing confidence in governments.
“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 government.”
In an interview with “Axios on HBO” over the weekend, while talking about why he has started to believe in cryptocurrencies now, Paul said,
“the government currencies are so unreliable.”
They’re “fiat currencies. They’re not backed by anything. The dollar’s been more stable than most other countries, and so it is the reserve currency,” he said, which has his belief in crypto growing.
The Senator isn’t new to crypto; in 2015, he accepted donations in Bitcoin as part of his presidential campaign to appeal to the younger generation. BTC 5.08% Bitcoin / USD BTCUSD $ 63,008.37
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“I’ve been fascinated by the concept of it, but I never would have purchased it myself. I’m just a little bit skeptical.”