Investment Advisor Warns That the United States Government Won't Allow Large Firms to Keep Replacing the Dollars With Bitcoin
February 15, 2021 11:37 PM
A renowned investment advisor has warned that the U.S Government won't sit back and watch large companies like Tesla to keep replacing Dollar with Bitcoin.
Founder of Risk Reversal Advisors Dan Nathan, says the U.S Government will not allow the Dollar to fall away as the worlds reserve currency. Tesla recently recently added Bitcoin to it's balance sheet and analyst has predicted that more cooperation would follow suit.
In an interview with CNBC last week just after Tesla announced its $1.5 billion Bitcoin investment, the Chief of Risk Reversal Advisors Dan Nathan offered his view on the future of Bitcoin.
"The United States Treasury and government will not allow this sort of thing to get out of hand in a situation where large firms are beginning to replace dollars with bitcoin to an extent." Asked during the interview how regulators could stop cooperation's from adding Bitcoin to their balance sheet.
The U.S. Government can regulate the hell out if it as "we've seen that already to some extent". He continued saying, " at the moment we are in a bit of euphoric state" Bitcoin and Tesla are "Two risk assets which have gained over a trillion dollars combined. He added saying its all based on hopium.
Numerous analyst have predicted that Following Tesla investment in bitcoin many other companies are expected to flood in and do the same by adding Bitcoin to their balance sheet. In recent weeks we've seen operations like Twitter Inc, BNY Mellon, Mastercard all indicating on adopting cryptocurrencies with Twitter in particular planning on paying it's employees using Bitcoin as well as adding it to it's reserves.