Famed financial historian Niall Ferguson has suggested the incoming Biden administration should ‘integrate Bitcoin into the US financial system.’
The former Harvard and Oxford University professor wrote a lengthy article about the rise of Bitcoin and how he sees its role in the future.
The famed Glaswegian academic said the US government should scrap plans to create its own CBDC and move towards a Bitcoin standard.
China has won the mobile payments race, as it’s two leading payment processors Alipay and Wechat handle more than double that of VISA and Mastercard. And with China seemingly way out in front with the CBDC, Niall Ferguson believes the US should take full advantage of the Bitcoin infrastructure.
‘Rather than seeking to create a Chinese-style digital dollar, Joe Biden’s nascent administration should recognize the benefits of integrating Bitcoin into the U.S. financial system,’ said Ferguson.
Ferguson also elaborated on the way Bitcoin can help the US authorities and its law-abiding citizens. The financial historian cited Bitcoin’s pseudonymous feature and indelible record in helping authorities crack down on many past ill-gotten gains. Read More