Dear Reader,
Bitcoin, the main cryptocurrency, is steadily being accepted as a means of payment, unit of account and a store of value or with other words money.
Some analysts claim Bitcoin is USD 2.0 or a global reserve policy, but in electronic form.
Does Bitcoin stand a chance to become a global electronic reserve currency, much like the United States Dollar is now?
There are many factors at play. Fist there is no strong economy or military backing the Bitcoin. Second Bitcoin's liquidity is far from USD's.
Bitcoin, however, lacks the backing of a government which in turn could prove actually an advantage in that people trust the Bitcoin more than the USD. Bitcoin is already a global reserve currency but of much lower stature than the USD in the sense that you can exchange Bitcoins for USD or EUR at any point in the world.
Yes, I think Bitcoin has its place as a global reserve currency, but it will be a lot less powerful than the USD in the beginning. With the passage of time Bitcoin's role as a reserve currency will continue to grow.
Disclaimer: The blogposts and comments on this blog and posts on social networks(Twitter, LinkedIn, Facebook etc.) are not investment recommendation, are provided solely for informational purposes, and do not constitute an offer or solicitation to buy or sell any securities. The opinions expressed on the blog are Petar Posledovich's. Petar Posledovich does not guarantee the accuracy of the information presented on this blog and social networks. The information presented is "as is".
Petar Vladimirov Posledovich is not liable for any investment losses incurred by reading and interpreting blogposts on this blog and posts on social networks.
Conflicts of interest: I may possess some of the securities, currencies or their derivatives mentioned in the blogpost and posts on social networks(Twitter, LinkedIn etc.)!
Respectfully yours,
Petar Posledovich
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