The strategist of global investment giant Franklin Templeton predicts that every national treasury will one day hold Bitcoin (BTC) and the leading cryptocurrency will become the fundamental unit of transactions.
National Interest in Cryptocurrencies
In a new interview on the YouTube channel of cryptocurrency phenomenon Natalie Brunell, Sandy Kaul, the head of cryptocurrency and sector advisory services at Franklin Templeton, mentioned that nation-states are starting to adopt the biggest cryptocurrency by market value. Natalie Kaul also suggested that BTC would be even more efficient for national treasuries than central bank digital currencies (CBDC), making the following statement:
“I think you are already starting to see countries holding BTC, and even less developed countries wanting to play on a more level playing field by uniting some of their purchasing power around Bitcoin. They are using this as a way to compete more effectively with larger countries and bigger economies… I also believe that BTC will become something that every treasury should hold because some of their operations, rather than needing to happen through foreign exchange conversions to facilitate cross-border transactions as they do today, will more easily be carried out through Bitcoin payments. So many people are very hopeful about central bank digital currencies. I think they will create a lot of efficiencies, but they will still require the full translation and exchange rate risk that you carry from country to country, whereas Bitcoin is Bitcoin in every country.”
“Bitcoin Will Become a Fundamental Unit!”
According to Natalie Kaul, it is within the realm of possibility for countries around the world to use Bitcoin as a fundamental unit in their transactions. The expert concluded with the following remarks:
“I still believe in the potential of BTC to be used as the base unit for international transactions. You will see it being used for certain types of trade, and this means that every country will need to hold a reserve of it. So I’m seeing it increasingly become a fundamental part of the system in the traditional banking ecosystem, and I think the question then becomes: Over time, do people start to move towards something that operates globally and is not connected to any government’s policies?”
