Giustra sees bitcoin as a threat to sovereign currencies
“They are going to create their own central bank digital currency like everybody else in the world and they’re not going to want competition. I see Bitcoin as an anti-sovereign fiat play and if I’m right about a monetary reset where everybody’s going to something else that incorporates digital currencies in whatever they create, the last thing they’re going to want is the competition from Bitcoin,” he said.
USAGOLD note: Though this article attempts to pose billionaire Frank Giustra as a champion of bitcoin, what he is really saying is that investors should be attuned to monetary authorities acting at some point in the future to remove it as competition for sovereign currencies. It is a cautionary tale. Giustra is a long-time advocate of gold ownership as a hedge against currency debasement.