Larry Fink: National Debt May Make Bitcoin Reserve Currency over Dollar

Take up Warren Buffett's idea of having corporations pay their fair share of taxes and the national debt becomes much more manageable.

The current speculative behaviour would have to end. So a spectacular gain for some, but a blip in time.

Isn't it then just Bretton Woods with a rather funny form of gold? I suppose all currency floats to the new standard so no, it's different. And, the finite extent of bitcoins means there is de facto revaluation as long as new things are made and value in bitcoins has to encompass more things being ascribed value.

If he'd said a blockchain between central banks I might have agreed. Nothing about bitcoin needed there and to my own knowledge central banks have at least discussed it in hypothesis for a decade. It suits a mutuality model for reconciliation amongst them with an m of n threshold.

Why would countries invest enormous amounts of wealth in something that the USA print out of thin air at an alarming rate (total number of dollars double every decade, halving the dollar's value) when a digital money exists with global final clearance within an hour and a capped supply which is only around 1% higher than the current supply level?

Network effect of the dollar can't defend against this kind of inequity.