MicroStrategy’s Michael Saylor is warning that China could claim hegemony over the crypto ecosystem if the US doesn’t step up.
In a new interview at the MIT Bitcoin Expo Conference, the billionaire says it’s inevitable that Bitcoin will become an underlying store-of-value asset that can move across mobile payment rails around the globe while propping up fiat currency.
However, Saylor says that if the US doesn’t take initiative to lead that revolution, then China will. He doesn’t think this scenario will work out well for America.
“The question really is: is the United States going to provide technology that’s going to solve the problem of monetary economics for the entire planet or are we going to abdicate our leadership role? And all that means is the capital moves offshore, the technology moves offshore, and people – maybe they don’t use English or the dollar, they use Chinese and CNY (Chinese Yuan). I don’t really think that’s good for