April 16, 2021

US Policy Adviser Rebuts Peter Thiel: Bitcoin Won’t Undermine USD

Featuring Yaya J. Fanusie

Source: Coindesk

Journalist David Pan

A member of a Congressional group tasked with looking at the national security implications of the U.S.’s economic relationship with China said Thursday that bitcoin (BTC, -1.48%) is no threat to the U.S. dollar, despite what Peter Thiel thinks.

Specifically, bitcoin does not compete effectively with fiat currencies because of its unstable price, said Alex Wong, a member of the U.S.-China Economic and Security Review Commission created by Congress in October to evaluate the U.S.-China relationship.

Read the full story and more from Coindesk.

Authors

  • Yaya J. Fanusie

    Adjunct Senior Fellow, Energy, Economics and Security Program

    Yaya J. Fanusie is an Adjunct Senior Fellow at the Center for a New American Security (CNAS). His research focuses on the national security implications of cryptocurrencies an...