Viewpoint: If Bitcoin becomes a strategic reserve asset, the award marks the end of the Federal Reserve's leadership in global monetary policy

2024-11-18 08:38:06

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ChainCatcher news, Lightspark co-founder and Chief Strategy Officer, Christian Catalini, founder of the MIT Cryptoeconomics Lab (who was also a co-founder of the failed Diem/Libra project), shared his views on the U.S. debt, the Bitcoin strategic reserve proposal, and the calls to replace Federal Reserve Chairman Powell.

Catalini believes that despite some false advertising in the market, the U.S. is not on the brink of a debt crisis. From a broader perspective, the world has accumulated debt, especially after the 2008 global financial crisis. While this does not mean that over-indebtedness is a good thing, it is a common issue that almost every country must address in some way. However, if Powell is removed in January next year, it would undermine the institutional credibility of the SEC and weaken the dollar, raising doubts about the market's ability to maintain debt. If Bitcoin were to truly become a strategic reserve asset in the future, it could signify "the end of the Federal Reserve's leadership in global monetary policy."

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