Bitcoin BTC/USD purist Max Keiser said Monday that the apex cryptocurrency has the potential to challenge the dollar’s place as the world’s reserve currency, and that U.S. politicians are aware of this.
What Happened: Keiser took to X to share his thoughts on the relationship between Bitcoin and the U.S. dollar.
“I don't think U.S. politicians believe Bitcoin can co-exist peacefully alongside the USD without causing major disruptions to the USD as world reserve currency,” said Keiser, who also serves as El Salvador government’s senior Bitcoin advisor.
The statement came in response to news of Russia’s largest bank, Sber, launching a Bitcoin-linked bond product, which is already trading on over-the-counter markets and may soon be listed on the Moscow Exchange. The product exposes investors to Bitcoin’s dollar value and potential strengthening of the dollar against the Russian ruble.
Keiser argued that while the U.S. is hesitant to create such a product, countries like Russia have begun to recognize that a Bitcoin reserve “obviates the need for the dollar.”
Why It Matters: Keiser’s comments highlight a growing debate about the potential of Bitcoin to disrupt traditional financial systems.
Mara Holdings CEO Fred Thiel said in an April interview that countries were mindful of America’s attempts to "inflate away the debt" by devaluing the dollar and have begun to look into Bitcoin-related ventures.
Entrepreneur and investor Anthony Pompliano made a similar point, stating that a weaker dollar will keep pushing up the prices of financial assets like Bitcoin.
Notably, President Donald Trump signed an executive order to establish a strategic Bitcoin reserve earlier in March, with a provision to develop budget-neutral strategies for acquiring additional BTC.
Price Action: At the time of writing, BTC was exchanging hands at $105,195.38, up 0.50% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: Bukhta Yurii On Shutterstock.com
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