Bianco Research CEO Says Next Reserve Currency Will Be a Cryptocurrency

Jim Bianco, CEO and president of economics and finance analysis company Bianco Research, said he sees a cryptocurrency as the next reserve asset.  

“I’ve argued that, in theory, the next reserve currency will be a crypto,” Bianco told Anthony Pompliano on an April 17 episode of Pompliano’s podcast. Biano noted that no other global fiat option would work as a U.S. dollar replacement. 

The U.S. dollar is still the reserve currency

In light of recent economic difficulties related to the COVID-19 pandemic, Bianco noted people have fled into the U.S. dollar with their wealth as the world still largely views it as a reserve currency. Gold and oil, for example, see prices listed in terms of USD around the world.   

“Ninety percent of the world is in dollars,” Bianco said. “If you are Chinese, and you want to do a trade for Brazillian timber, you’re quoting the price and paying for it in dollars, is what you’re doing most of the time.”

The search for an alternate reserve currency

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