America Would Be Better Off If Bitcoin Became the World’s Reserve Currency

It would force us to “live within our means,” says Avik Roy, the president of the Foundation for Research on Equal Opportunity.

https://reason.com/video/2022/06/09/avik-roy-america-would-be-better-off-if-bitcoin-became-the-worlds-reserve-currency/
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Can bitcoin really become the world's reserve currency if it doesn't displace the dollar, the euro, or the yuan as an everyday medium of exchange? Why isn't its price increasing as inflation rises to levels not seen in 40 years? What sorts of regulations—if any—would best facilitate the wide scale adoption of bitcoin not just among the wealthy but the unbanked of the world?

Avik Roy is the president of the Foundation for Research on Equal Opportunity, an Austin, Texas based think tank that focuses on economic growth and mobility. He says that bitcoin improves on the ability of gold as a non-state-backed store of value and has shown itself to be effectively uncensorable—qualities that will allow it to act as a game-changing restraint on the worst actions of governments and central banks.

Reason spoke with him at the Bitcoin conference in Miami in April.

Produced by Nick Gillespie; edited by Adam Czarnecki

Photo Credits: Gerald R. Ford School of Public Policy/Flickr/Creative Commons