American Senator Rand Paul called cryptocurrency possible replacement of the dollar as a global reserve currency, reports Newsweek.
Paul criticized the dollar, stating that the national currency of the USA was not supported by anything. In addition, he said that he was struck by the growth of digital currencies. “I wondered if cryptocurrency could really become a global reserve currency against the background of the fact that more and more people lose confidence in the government,” said Paul.
Senator suggested that distrust of national currencies can benefit cryptocomputes. He noted that he considers state currencies unreliable. “I have always been a man who believed that our currency should be supported by something really valuable, for example, gold, silver or goods, and always wondered that the cryptocurrency was also not reinforced by anything,” said Paul.
Senator supported cryptocurrency in 2015 during the nomination of his candidacy for the presidency from Republicans. Then he stated that he would take donations in Bitcoins on his campaign.
According to the American billionaire Mark Kubana, cryptocurrencies adopted many quality gold. The precious metal “dead” itself as an asset and means of savings. In October, the American investor-billionaire Paul Tudord Jones called cryptocurrency with a more efficient way to accumulate and preserve capital than gold. According to him, digital assets are better protected from inflation, since they are not controlled by central banks. Gold lost in price eight percent over the past 12 months compared with the annual increase in the value of Bitcoin in 437 percent.
On October 20, Bitcoin’s course broke the historical record, exceeding the April 64.8 thousand dollars. The price of cryptocurrency continued to grow, the maximum per day amounted to 66.8 thousand dollars. On October 26, the cost of Bitcoin is 62.66 thousand dollars.