Zoltan Pojar his analysis for whether Bitcoin can be a global currency? shared
In his role at Credit Suisse, Pozsar’s insight into the ins and outs of the legacy financial system and market dynamics was highly sought after. His recent departure from the bank came shortly after it was purchased by UBS in March as an attempt to keep it from collapsing amid existential turmoil for banks around the world. On stage at Bitcoin 2023, Pozsar addressed how U.S. banks have been impacted
Pozhar continued that this is an important problem that big banks are somewhat safe from, but in reality these unexpected problems are lessons from the inability to face interest rate risk, which not knowing how to lend leads to an increase in interest rates.
He described the Federal Reserve’s answers to this problem as only solving half of the problems, and he entered into an interview with Erzavar Hayes, one of the founders of Bitmax, and asked Hayes to say whether he has Bitcoin or not.
In his analysis, he started with pessimism about Bitcoin. Pozsar continued that Bitcoin can create the role of money in the world, but money will last only if it is supported by governments.
The one thing I will say about bitcoin is that money, if you will, is something that is purely public or a public-private partnership,” Pozsar explained. “When I look at Bitcoin, it’s a purely private initiative. It’s clearly lacking a state link. But then again, things are evolving, there are a number of countries that have adopted bitcoin as a legal tender, so things are definitely in flux there.”
This market analyst, who recently worked as a director of the Credit Suisse investment bank, added that Bitcoin has been recognized as money in some countries. It will be at the price of the share of dollars from the financing of goods, the financing of trade and the share of reserve assets, etc.
You answer!
Can Bitcoin be the world’s money?
Go to articles more
