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

InternationalReserve Unveils Strategic Insights for Navigating the Future of Finance

Toronto, ON, Feb 21, 2024, ZEX PR WIRE, As the global financial landscape continues to evolve at a rapid...

Public Meme Token ($PMT) Conquers Presale Expectations and Eyes Next Major Exchange

Prisdorf, Germany, 20th February 2024, ZEX PR WIRE, Public Meme Token is proud to announce that its private and...

Quark 2024: BITS Goa to Host Spectacular Tech Extravaganza

Vasco, India, 19th February 2024, ZEX PR WIRE, In a dazzling display of technological prowess and innovation, Birla Institute...

Discover the Charms of Turkey: Unveiling Top Destinations for Tourist e-Visa Holders

Ankara, Turkey, 19th February 2024, Turkey, renowned for its rich history, stunning landscapes, and vibrant culture, continues to beckon travelers...

Revolutionizing Travel: Vietnam E-Visa Streamlines Visa Process for Global Citizens

Hanoi, Vietnam, 19th February 2024, Navigating the intricacies of international travel just got simpler for citizens of Montenegro, the...

Revolutionizing Travel for Citizens of Norway, Panama, Papua New Guinea, Peru, and the Philippines: Vietnam E-Visa Offers Seamless Visa Solutions

Hanoi, Vietnam, 19th February 2024, In an era where convenience is paramount, Vietnam E-Visa emerges as the beacon of streamlined...

Must read

Hungama joins forces with BharatBox for an Unprecedented Digital Odyssey

BharatBox, in collaboration with The Sandbox announces the launch...

BharatBox & Mahabharata: A Metaverse Renaissance in Storytelling Brilliance

BharatBox, the India destination within The Sandbox, in collaboration...

Unlocking the Power of Belief: Ramsena Coin Introduces the First Hindu Cryptocurrency and Virtual Revolution.

Ramesena Coin, the world's biggest virtual connection of Hindutva,...

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...

You might also like
Recommended to you