In a recent Twitter post from ShapeShift CEO, Erik Voorhees, it seems that he has an agreement with the idea that Bitcoin (BTC) will be able to take over the financial world on a large scale, replacing gold and banknotes as the world's main reserves.
At press time, the price of BTC has already broken through the strong resistance level of $ 12,000K, while the dollar is sinking.
Embracing the idea, Erik argues that while BTC will beat Gold, paper money will be replaced by stablecoins, ushering in a new era in the financial sector.
While responding to fan statements that the world may not see this development in the current generation, Voorhees said that due to the dynamics at work in the bond market, it will be difficult for fiat currencies to tap into another generation.
On Twitter, Erik said:
“Possible Future: Bitcoin becomes the de facto reserve currency, replacing fiat. AND also, large financial companies issue their own stablecoins, partly or fully supported by Bitcoin. "
According to comments from other enthusiasts, the middle class is more likely to support Stablecoins than Bitcoin, mainly because of its more pronounced price volatility.
However, it is a reasonable projection that Bitcoin's price will be more stable if it reaches the stage of qualifying as the de facto reserve currency. In this case, everyone, including the middle class, will tend to support Bitcoin.
For a long time, the world has longed for a free, clean and verifiable banking system in which market participants are responsible and have full reserves without having to rely on a central bank.
Bitcoin's success as a dominant crypto and a highly respected asset in terms of privacy and security has added to its ability to create the market environment necessary to deliver a free banking system.
And to make this happen, we feel that BTC really needs to get a lot of interest and optimism from every investor at all levels of the generation so that whether we want it or not, like it or not, finance will be dominated more by Bitcoin and the opportunity for this idea to materialize, the possibilities will be even better. Let's wait and see!
Originally posted on Erfin.tech. Hive blog powered by ENGRAVE.