A Divided World, Good for Crypto?
Binance CEO, Changpeng ‘CZ’ Zhao, expects the popularity of cryptocurrencies to further increase.
Amidst geopolitical tensions and the US dollar’s battle for hegemony, crypto will become a relevant alternative to get people across the globe together, he said.
Speaking with Jeremy Allaire, CEO of Circle, on The Money Movement YouTube channel, ‘CZ’ commented:
“Money is a very strong tool for governments to influence each other, the geopolitics, etc. The US dollar is one of the strongest tools that the US has.
The world is becoming more divided. When the world becomes more divided, guess what? People will tend to try to use the currency as a tool to enforce sanctions etcetera.
When you do that a lot, people look for a neutral thing to use, which is cryptocurrency. Bitcoin is very neutral. It doesn’t belong to any country. No one can mint more of it. There’s no inflation. It’s the most neutral thing.
Then for businesses that want to do business globally, that don’t want to get stuck and get their bank accounts frozen by this country, that country, guess what? They will use the neutral technology.”
The Binance head stresses that when crypto does not become a part of American life, the US dollar will surely take a big hit:
“The US has to think about, ‘Hey, does this decrease the influence of US dollars globally?’ Which it probably does, to be very frank.
So the US can fight it for a long time. If you keep fighting it, this thing will develop for the rest of the world.
You can protect the US dollars for a slightly longer period of time, but then the rest of the world is probably going to move to crypto. In the long term, you cannot protect US dollars forever, most likely. Then you don’t have a future.”
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Source: igaming
