Senator Rand Paul Bitcoin To Become World Reserve Currency

• As people lose confidence in the government institutions, bitcoin could benefit and rise to become the world’s reserve currency, Senator Rand Paul said.
• “I’ve started to question now whether or not cryptocurrency could actually become the reserve currency of the world as more and more people lose confidence in the government,” he said.
• Senator Paul has never publicly endorsed any cryptocurrency other than Bitcoin.

Bitcoin could become the world’s reserve currency if more people lose trust in the government, said Senator Rand Paul, who accepted BTC donations in its 2016 campaign. The Republican Senator was interviewed on Axios, discussing the future of bitcoin and fiat currency in the U.S.

“The government currencies are so unreliable — they’re also fiat currencies. They’re not backed by anything,” Sen. Paul said.

A Gallup poll published on September 30 highlighted how Americans’ trust in government remains low. The survey found that overall trust in the federal government to handle international problems sits at a record-low 39%, whereas confidence in the judicial branch is at 54%, down 13 points since 2020. U.S. citizens’ trust in their state (57%) and local (66%) governments continues to be higher than trust in the federal government.