The world is constantly evolving and basically, not a day goes by that we don’t catch a new invention. However, billionaire Stanley Druckenmiller thinks that the dollar could be replaced by a cryptocurrency in the future. According to him, the dollar will no longer be the world’s reserve currency in the next 15 years, which opens the door to some cryptocurrency, which could become the national currency of the USA and maybe even the world currency. However, he does not think that the dollar will be replaced by any fiat currency, as he says “Europe is a complete mess” and “Who’s going to trust the Chinese?”, adding:
“The quality of the competition that’s going to come against the incumbents in this space is going to be brutal.”
He also noted that although Ethereum is a leader in building smart contracts, it does not dominate everyday transactions and therefore believes that the next generation of developers will seek to improve current blockchain technology. When Ethereum is mentioned, a really large number of people expect Ethereum to replace Bitcoin one day. Druckenmiller also commented on this, with very good point.
“It’s going to be very hard to unseat Bitcoin, as a store of value asset, because it has a 14 year old brand, it’s been around long enough, and obviously, there’s a finite supply.”
Whatever the outcome, we must acknowledge Druckenmiller. The world is constantly evolving and valid today may not be valid in 10 years. However, it will be fascinating to see how the world evolves.