Bitcoin will not become a global reserve currency, argues Noelle Acheson. But it is adding a powerful tool to the box of potential solutions.
I agree with the author of the article that Bitcoin will not become a global settlement currency just like gold hasn't and will not. But I believe there is a non-zero chance that Bitcoin might become a digital reserve commodity hoarded by central banks around the world like physical gold is a reserve commodity. I think this won't happen any time soon, however. First Bitcoin will have to be adopted as a non-correlated asset useful as a hedge during economic downturns, which we seem to be at the beginning of.
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