Senator Rand Paul Says That Crypto Could Become World’s Reserve Currency

Senator Rand Paul, who took BTC donations in his 2016 campaign, believes Bitcoin might become the world’s reserve currency if more people lose faith in the government.


Senator Rand Paul, in a new interview, questioned if Bitcoin, as it continues to gain support around the world, can replace the dollar as the world’s reserve currency.

“I’ve started to question now whether or not cryptocurrency could actually become the reserve currency of the world as more and more people lose confidence in government,”

Paul stated this in an interview on HBO’s “Axios” that aired on Sunday.

In 2015, the senator made waves when he declared that his presidential campaign will accept bitcoin donations on its website.

That declaration came after the Federal Election Commission released an advisory opinion in 2014 allowing campaigns to accept Bitcoin donations as long as valuation and reporting standards were followed. According to Paul, cryptocurrency is now greater than he expected it to be in 2015.

Senator Paul stated that when people lose faith in their government’s ability to solve problems and effectively serve their interests, Bitcoin and cryptocurrencies would prosper and become more widely accepted.

“I’ve started to question now whether or not cryptocurrency could actually become the reserve currency of the world as more and more people lose confidence in the government,” he further said.

Senator Warren has previously endorsed cryptocurrency. During his presidential campaign in 2016, Paul accepted bitcoin donations in addition to cash payments.

Despite the fact that the Republican Senator did not specify which cryptocurrency he was talking to in the interview, he has not publicly promoted any cryptocurrency other than BTC, implying that he was most likely referring to bitcoin. This isn’t surprising, given that BTC is the only cryptocurrency that can be used as a money.

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IMAGE CREDITS: getty images

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