Super Hyper Bitcoinization Will Kill US Dollar Dominance: El Salvador Advisor
Crypto Market News: Max Keiser, senior advisor to El Salvador President Nayib Bukele, said the country’s Bitcoin approach is designed such that it can be copied for adoption in other countries. He said those who are not getting into the Bitcoin market will find it hard to survive the next 2-3 generations. El Salvador, the Central American country, is set to go down in history of the crypto market as the world’s first country to use the cryptocurrency as legal tender.
Also Read: Bitcoin Gas Fee: Here is the Current Role of Ordinal Inscriptions on the Network
Keiser made the comments while participating in a panel discussion at The Bitcoin Conference 2023. He said central bank failures around the world will lead to super hyper Bitcoinization as a means to fight super hyper inflation.
End Game For Central Banks
The advisor predicted that the time has come for Bitcoin to take the place as a ‘central bank killer.” He said there is a scale of urgency in terms of Bitcoin adoption around the world. There has been an urgency in countries like Lebanon with the central bank collapse and the people who had Bitcoin survived, he explained. The same urgency has been playing out globally, he added, stating that the urgency in the United States too will change with the shift in the U.S. Dollar’s position as the world reserve currency.
“We are at the end game of the 300 year experiment of central banks. Bitcoin was invented as a central bank killer, and now is Bitcoin’s time.”
Speaking about the change in geopolitical dynamics, the El Salvador advisor said the number of countries joining the BRICS group is vastly faster than the number of members joining the NATO group. Earlier, CoinGape reported that the BRICS group is capable of launching a Dollar competition that could dominate the global financial market.
Also Read: Is Bitcoin Price Really In Bull Market? Glassnode Data Suggest Otherwise
- FOMC Minutes Signal Fed Open to More Rate Cuts This Year, Bitcoin Bounces
- North Dakota To Issue ‘Roughrider’ Stablecoin Following Wyoming’s Footsteps
- Ethena Labs and Jupiter Partner to Launch JupUSD Stablecoin on Solana
- BlackRock’s Bitcoin ETF Leads ETFs With $3.5B Weekly Inflows as It Eyes $100B in AUM
- MetaMask Launches Hyperliquid Perpetuals In-App, Plans To Integrate Polymarket
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?
- Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
