Bitcoin (BTC) threat to the existing fiat monetary system

Frank Giustra , CEO of Fiore Group, suggested growth of BTC poses threat to existing fiat currency system while regulators have said they will spare no effort to contain any competition.

The global economy is moving to a digital world, Giustra said in an interview with Stansbury Research in October 2022.

He predicted an imminent reset of the monetary system, so bitcoin could stand out.

In that sense, he believes Bitcoin could destabilize fiat currency sovereignty and even threaten the potential establishment of CBDCs by jurisdictions like the United States.

Giustra explained that the world needs to understand that the country aims to lead in blockchain, not digital assets.

He in past has pointed out that the flagship cryptocurrency is not a solution for everything.

At the time of writing, the Bitcoin price is $19,204.85 USD with a market cap of $368 billion USD.

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