Russian economist doubts that Bitcoin will undermine the dollar

Russian economist doubts that Bitcoin will undermine the dollar

Many Russian experts believe that Cryptocurrencies, especially Bitcoin, have enormous potential.

However, such instruments are not able to undermine the position of the U.S. dollar in the global market. Even digital currencies of central banks, such as the Chinese, will not be able to eliminate the dependence of the global financial system on the U.S. currency.

Oleg Shibanov, head of the SKOLKOVO-RASH Center for Research in Financial Technologies and the Digital Economy, shares this view.

The dollar will still retain its status as the world’s leading means of payment. No alternative instruments, including CBDC or decentralized Cryptocurrencies are able to shake the dollar’s dominant position, the expert stressed.

Shibanov does not exclude that already in 2023 citizens and companies will be able to use the digital yuan. It is the third form of currency after cash and electronic, but even this tool will be second only to the U.S. dollar.

Bitcoin is designed to do 3 things:

1. To push for a rapid transition to a digital economy and for the mass use of the population – digital money;

2. To maintain the dollar as the global financial leader among other currencies!

3. To become digital gold in the global financial system!

Used to paper, wait and time will change everything . Remember there was a time of transition 2014 and the time will come to discard the old and unnecessary , paper is a pity.

Undermine the dollar – there is a bead for that, Bitcoin is not needed.

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Written by Renat
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