Stephen Harper, the former prime minister of Canada, sees Bitcoin and digital currencies as potential basket reserve currencies to replace the dollar, according to Cointelegraph. Central bank digital currencies (CBDC) are “inevitable” but would likely be subject to monetary policy around the world-Harper

  • Harper does not see a viable alternative to the U.S dollar, except CBDCs, as Euro faces long-term uncertainty, while the Yuan is subject to “arbitrary measures” by the Chinese government.
  • Harper was, nonetheless, concerned about central banks becoming “kind of a general bank” rather than just a financial monitor that could affect the rollout of CBDC.
  • Harper’s comments come at a time the Bank of Canada is already moving towards the development of its CBDCs.
  • Since Harper served as prime minister between 2006 and 2015, cryptocurrencies and blockchain has accelerated in Canada, with the country getting its first regulated crypto exchange in September.

Bitcoin is currently gaining. BTCUSD is up 1.74%