BlockchainAvik Roy: the adoption of bitcoin (BTC) in the...

Avik Roy: the adoption of bitcoin (BTC) in the United States

Equal Opportunities Research Foundation (FREOPP) chairman and Forbes editor-in-chief Avik Roy shared his opinion on bitcoin (BTC). He also explained what consequences for the entire U.S. financial system could lead to the adoption of the number one cryptocurrency.

US debt debate

Many countries suffer from inflation and their governments continue to print more money. In this context, it becomes evident that the demand for cryptocurrency is increasing. In the United States, moreover, the volume of foreign debt continues to increase.

Recently, Avik Roy explained how this situation can be changed with bitcoin (BTC).

As AMBCrypto reports , the head of FREOPP is sure that over time the debt, held by the US government, will increase. The costs associated with Covid-19 make the situation worse. In this regard, Roy said he sees huge potential in BTC. The adoption of cryptocurrency can seriously affect future investments and the entire financial system.

Avik Roy added that the presence of a national currency in circulation can no longer be seen as a country’s creditworthiness. But the situation can be changed with bitcoin. Roy is convinced that this cryptocurrency will be a great competition for treasury bills and that it can completely change the world economy.

Gold or BTC?

Roy also explained why the gold available in the treasury is not enough to protect the purchasing power of the country. According to him, just like the precious metal, bitcoin is durable, interchangeable, divisible and can be forged. But unlike gold , BTC is more scarce, protected, and portable. In addition, crypto technology is constantly evolving and expanding its functionality.

Apparently, the publisher of Forbes is convinced that by accepting bitcoin as a legitimate payment method, the United States will receive new financial opportunities. He predicts that in the next two decades, BTC’s liquidity growth will have a huge impact on US treasury reserves and further reduce the country’s creditworthiness.

Currently, around 43% of the total number of global crypto hedge fund managers live in the United States. If these organizations continue to invest in bitcoin, America will not be able to maintain economic leadership.

Hopefully the government will listen to analysts and decide to change the financial system. We will follow what happens and await the comments of the financiers of the country.

Samantha Schnurr
Samantha Schnurrhttps://www.newsalarms.com/
Samantha started her editorial career chasing celebrities as a magazine editor. Along the way, she also started chasing passport stamps, writing for Travel + Leisure, Condé Nast Traveler, Airbnb Magazine, Lonely Planet and Washington Post. She now covers travel and pop culture while wandering the world — often reluctantly running races.

Latest news

ShipFinex: A Real-World Asset Tokenization Protocol Now Regional Champions of Startup World Cup Pitch Competition

Dubai, UAE, Nov 15, 2022, ZEXPRWIRE, One of the most promising properties of blockchain has been the ability to...

The world’s largest online general merchandiser DollarStore, will start accepting Oduwacoin in their online U.S flagship Store.

“The official cryptocurrency of the  Dollarstore.” Beverly Hills, California, Nov 14, 2022, ZEXPRWIRE, An incredible milestone for the Oduwa community;...

Gulf Xellence to Host World ESG Summit in Dubai, UAE, 21st-23rd February 2023

THE WORLD ENVIRONMENT, SOCIAL & GOVERNANCE SUMMIT “Leading the future through Environmentally Sustainable Growth”Dubai, UAE, Nov 7, 2022, ZEXPRWIRE,...

Chairperson IFSCA delivers a Keynote address on “Policy Dialogue -Directing ESG  Governance for the Financial Industry “at Singapore Fintech Festival 2022

Chairperson International Financial Services Centers Authority Injeti Srinivas was invited to deliver a keynote address on “ Policy Dialogue...

LedgerFi Appoints Dr Abdulrahmaan Al Ansaari as Chairman of the Board

Dubai, UAE, Nov 4, 2022, ZEXPRWIRE, LedgerFi IT Solutions, a Dubai-based web3 and blockchain company announced the appointment of...

ZoidPay to Revolutionize the Web 3.0 Landscape with $75M Investment Commitment from GEM Digital

A $75M financial commitment is set to establish ZoidPay as the go-to open architecture for building the next generation...

Must read

USD 19,500, the new key price of bitcoin to start an upward movement

Key facts: In the past, $19,500 has been a resistance...

Blockchain IDOs and Presales You Should Know About

There’s never a lack of new projects opportunities when...

The 10 rules to prepare for the crypto bear market by the savvy investor

While the Bitcoin and cryptocurrency market reached a record capitalization in...

Latin America’s E-commerce Giant Opens Up To Buying Bitcoin

Bitcoin (BTC) and cryptocurrencies are increasingly accepted every day for...

Binance Welcomes Arbitrum – Ethereum’s Second Layer!

For many months, the Ethereum (ETH) network has faced...

You might also like
Recommended to you