📢Former IMF Chief Economist Warns:
Cryptocurrencies Threaten the Dominance of the US Dollar
Kenneth Rogoff, former chief economist at the IMF, believes that cryptocurrencies pose an increasing threat to the control of the US dollar. In statements to Bloomberg, he pointed out that the use of cryptocurrencies for tax evasion and circumventing sanctions undermines the global influence of the dollar. This decline could raise interest rates, increasing the cost of everything from bonds to loans. However, Rogoff emphasizes that cryptocurrencies are not merely a "scam"; they have real value in transactions.
Could Bitcoin play a role in supporting the dollar in the future? Senator Cynthia Lummis suggests so!