When Fedcoin becomes legal tender, blips and crypts will be gone so fast your head will spin.
Wrong. If anything, a Fed coin will both legitimize and increase interest in Bitcoin.
Any money the Fed produces will not be limited in supply. This is the key power that Governments and Central Banks always wish to retain. And this is also why over time, any such currencies will decline in value in nominal terms (due to increased printing/creation of money). Further a Fed coin will likely track an individual's identification on the blockchain ledger, and may also have restrictions on how it is spent. (Not just for illegal spending, but also for example to ensure that a person on a Government benefit can only use it for certain types of foods (not alcohol) or services (such as approved medical). Such restrictions are arguably not a bad thing, indeed they may even be desirable in terms of social control, but they limit the desirability of such money as a unit of exchange. Money in this form may also fail to be accepted in some countries outside of the US (although it is also possible it will be permitted to be used/adopted by some countries). But either way, anyone can see that the use of any Government-created crypto, (as opposed to a decentralized crypto that no single nation owns or controls such as Bitcoin), will be highly politicized and cloaked with suspicion.
As I told you long ago (and we are now seeing it) the early movers (who are increasingly in control of the economy and the world, tech, fintech, hedge funds, private wealth bankers, as well as increasingly gen x's, y's and especially z's who understand or who grew up in a digitized world), are slowly but surely increasing their exposure and confidence in Bitcoin. You will see a lot more over the coming months and years ahead. Thereafter you will see larger pension , mutual, and endowment funds buy in (they will actually start to have no real choice but to do so). And after that, you will certain Governments will start acquiring stakes, just as they have with gold. You have already seen this happening with Square, PayPal. Morgan Stanley, among others buying up chunks (both publicly announced, and of course covertly via company executives personal allocations). They are doing this in advance of the cusp of global rolling out much broader platforms for trading and usage of BTC among their customer base.
As I have said before, everyone who is currently able (and that includes most Americans, who don't realize how fortunate they actually are in their current place in the world in terms of wealth), should have some exposure to Bitcoin. There are many reasons for this, as explained in earlier posts.
PS - Never for get. First .1 cent, then 1 cent, then 10 cents, then $1, then $10, then $100, then $1000, then $10,000... You get the idea.
With love, blip.
xxx
