American economist Brian Wesbury has shared his thoughts on what would happen if the masses were to ditch fiat currencies and adopt bitcoin instead. He discussed whether the government would allow it to happen and how bitcoin can become a true currency.
Economist Brian Wesbury Answers Question About the Masses Ditching Fiat Currencies for Bitcoin
Brian Wesbury is an economist with a focus on macroeconomics and economic forecasting. He is currently the chief economist at First Trust Advisors, a financial services firm headquartered in Wheaton, Illinois.
He was asked on Fox Business News last week about what would happen “if the masses were to ditch fiat currency,” whether it will “trigger a financial collapse,” and “could bitcoin ever replace the dollar?” Wesbury began by acknowledging:
A lot of people who are buying bitcoin and other cryptocurrencies believe that they are going to replace the dollar.
He explained: “if they were to replace the dollar, if you take all the