Bitcoin Emerges as Bigger Threat to US Dollar Than BRICS, Says Expert
Wharton professor Jeremy Siegel criticized President-elect Donald Trump’s stance on BRICS nations’ plans for a shared currency, arguing that bitcoin poses a greater threat to the US dollar’s global reserve status.
In a CNBC interview, Siegel noted the contradiction in Trump supporting bitcoin, which is increasingly seen by countries as an alternative reserve currency, while warning BRICS about creating a competing one. Trump’s evolving view on bitcoin contrasts with his opposition to BRICS’ currency plans. As he aims to keep the dollar dominant in global trade.
The growing value of bitcoin, bolstered by expectations of regulatory support under a Trump administration. Highlights this shift in economic strategy.
Clever Robot News Desk 4th December 2024
