Economist and former Canada Prime Minister says Bitcoin could become a ‘world reserve currency’

Stephen Harper was Canada’s Prime Minister from 2006 to 2015. He earned a bachelor’s degree and a master’s degree in economics from the University of Calgary.

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During an interview with Cambridge House’s Jay Martin at the Vancouver Resource Investment Conference on Sunday, Harper was asked about the possible future demise of the US dollar as a reserve currency. 

Harper answered that the US dollar could only be replaced by another large currency such as the Euro or the Chinese Yuan, but that neither of these alternative currencies could be a viable reserve currency. 

“It’s hard to see what the alternative is to the U.S. dollar as the world’s major reserve currency. Other than gold, Bitcoin, a whole basket of things […] I think you’ll see the number of things that people use as reserves will expand, but the U.S. dollar will still be the bulk of it.”

“Ultimately, if you have a digital currency and the purpose of the central bank is to control inflation and create a stable currency and priceability, then digital currency is just kind of an evolution of the marketplace […] But if it’s part of a series of what I think are wild experiments as to the role of central banking, then it worries me a lot”, Harper added. .

Originally reported on Cointelegraph.

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