BTC is Set to Become The World’s Reserve Currency, Monero’s Ricardo Spagni Says

Bitcoin’s growth in terms of development and adoption has been so vertiginous that many analysts and crypto enthusiasts have predicted that should the trend continue, BTC could become the asset par excellence for transactions and storage of value.

During the last edition of Monero Talk, Ricardo Spagni, lead maintainer of Monero (XMR) talked about several topics related to the crypto ecosystem and took the opportunity to talk about Bitcoin and its perspective for the future.

BTC Rules, But Altcoins Are The Expression of Humankind’s Diversity

The well-known programmer, although fully endorsing the use of Bitcoin, mentioned that it is almost impossible to imagine a future where altcoins do not exist. He explains that altcoins respond to the diverse opinions and needs of the public; therefore they will always live as alternatives to BTC for specific circumstances.

I think that the that the Bitcoin maximalists maximalism is probably the wrong word but those that believe that bitcoin is the only thing that will ever exist and everything else is going to fade into insignificance I think they do themselves a disservice … I think the chances are the entirety of the world agreeing to use Bitcoin Oni is like less than zero

However, he is confident that once layer 2 solutions have been implemented, BTC could become the currency of global acceptance in the society of the future:

The world that I imagine and that world is a world where Bitcoin is a reserve currency global reserve currency where Bitcoin has sufficient privacy through things like lightning Network and others. The second layer systems coin join and stuff like that.

This view of Bitcoin is not isolated. Ricardo Spagni’s words are shared by many other characters not only in the field of blockchain technologies but also in the world of finance in general.

Many speak of Bitcoin as “digital gold.” Recently, Tim Draper commented in an interview with Crypto Wendy that BTC had so many advantages over gold and other physical storage media of value, that in modern society it makes no sense to accumulate metals.

Full interview available here:

Right Now Bitcoin is experiencing a bullish trend with a possibility to keep growing a little bit more in a short time. The current price at 5.3K represents 2019’s ATH… for now