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Cryptocurrency could replace the U.S. dollar
The Street
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yesterday
Rebecca Walser, CEO, Walser Wealth Management, explains how crypto could replace the dollar and what it means for you.
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00:00
What's the new currency? The new currency is going to be some kind of blockchain, right? Some kind of
00:04
blockchain where we don't necessarily need a global world reserve currency. If you look at
00:08
the USD and Forex, it's already dropped precipitously in the last 10 years. In the last
00:13
five years, it's been exponentially dropping. So the new currency will be bi-directional trade
00:18
between countries and maybe their own individual stable coin of their own crypto, of their own
00:23
central bank digital currency. So are you buying crypto right now? Absolutely, always. What
00:27
specifically? I mean, of course, I love the grandfather of Bitcoin, but I think XRP,
00:31
Ethereum is a really smart contract platform. So again, everyone needs to be exposed to the fourth
00:36
industrial revolution on all of the technologies that are available. Just understand that that
00:41
doesn't mean it's a sure bet and it's not going to go straight up from A to Z. It's going to have
00:45
volatility and certainly retrenchment is going to be part of that. Do you wait for a pullback to buy
00:49
Bitcoin? I mean, it is 118 something right now, so it is pretty high. I mean, you know, we have seen it.
00:55
If we start to get any kind of Federal Reserve concession to probably go higher. Right now,
01:00
it's testing as a use case for inflation protection and hedging, right? So I do think
01:04
that Bitcoin long term is way above 118. But just remember, it could take years and it could have
01:09
retrenchment as well.
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