Morning Extra- Can Crypto Become the Reserve Currency of the World?

PHL17 Extra

(Sponsored)- Consumer price inflation is running near a 30-year high in the U.S., and there is a growing concern that the problem could be worse than policymakers have anticipated. Concurrently, Bitcoin, the largest cryptocurrency by market cap, continues to grow, rallying after a 6-month lull to hit a record $67,016 on Oct. 20th; this is up from just over $11k a year ago.

These past few weeks, everyone from CEOs to Wall Street money managers to federal governments have been weighing in on cryptocurrency. From Jaime Dimon to Rand Paul, the opinion on Bitcoin ranges from ‘worthless’ to ‘reserve currency.‘

Todd Ault, Executive Chairman of Ault Global Holdings envisions a future where the U.S. has made a substantial investment in crypto within the U.S. economy. While SEC Chairman Gensler and the Federal Reserve’s Chairman Jerome Powell have stated that they have no intention of banning cryptocurrency here in the U.S., Ault shares that there’s an opportunity now to lead the global economic conversation on cryptocurrencies rather than waiting for someone else to set the terms.

In interviews, Todd Ault will explain why the U.S. needs to invest in crypto, how inflation and supply chain issues will impact the dollar, and why there are so many different opinions on cryptocurrencies.

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