Letter #168: Central Banks Will Adopt Bitcoin - A Harvard PhD Candidate Believes It, Do You?

Read now to learn how Bitcoin is the best money for everyone, even governments.

Dear Readers,

Much has been said by mainstream media and Bitcoin critics about how governments will resist against adopting Bitcoin as an alternative to their own fiat currencies. It’s easy to understand where that line of thinking comes from. Governments accrue significant amounts of wealth and power through their ability to issue and manipulate their currencies. Bitcoin, an independent currency, eliminates the seigniorage that governments extract from countries that use their currencies and from their own people.

That said, there are innumerable reasons why governments, and anyone else for that matter, would want to adopt Bitcoin as currency. Bitcoin, while obviously not ideal for governments that want to control their peoples, is demonstrably better money than fiat currencies are in every way that matters.

Recent research by a PhD candidate in Harvard University’s Department of Economics has highlighted a rather potent reason for government adoption of Bitcoin: defending against sanctions.