Bitcoin can become the reserve currency of the world if it does not replace the dollar, the euro or the yuan daily medium for exchange. Its price is not rising as inflation increases to levels never seen in over 40 years. What sorts of regulations—if any—would best facilitate the wide-scale adoption of bitcoin not just among the wealthy but the unbanked of the world?
Avik Roy is president of Foundation for Research on Equal Opportunity. This Texas-based thinktank focuses on economic growth, mobility and sustainability. He says that bitcoin improves on the ability of gold as a non-state-backed store of value and has shown itself to be effectively uncensorable—qualities that will allow it to act as a game-changing restraint on the worst actions of governments and central banks.
There are reasonsHe spoke to me at the Miami 2022 Bitcoin Conference in April.
Nick Gillespie, edited by Adam Czarnecki. Open edited by John Osterhoudt
Photos: Gerald R. Ford School of Public Policy/Flickr/Creative Commons