Every National Treasury To Hold Bitcoin; BTC To Become Base Unit of Trade

Optimistic predictions about the mass adoption of Bitcoin keep flooding the crypto space. Check out the latest reports about this below.

A strategist from the global investment company Franklin Templeton has stated that they foresee a future where every national treasury holds Bitcoin (BTC) and that BTC will eventually become the base unit of trade.

Sandy Kaul, the head of Franklin Templeton’s digital asset and industry advisory services, made this statement in a recent interview on crypto influencer Natalie Brunell’s YouTube channel.

Kaul also mentioned that several nation-states have already started to adopt the top cryptocurrency by market cap.

Also, Kaul believes that BTC will be more efficient than central bank digital currencies (CBDCs) for national treasuries.

“I think you’re already starting to see [country’s holding BTC], and you’re starting to see even this play into less-developed nations wanting to play on a more equal playing field by combining some of their buying power around Bitcoin and using that as a way to compete more effectively with bigger countries and bigger economies…

I also think that [BTC is] going to become something that every treasury needs to hold because portions of their business will just be facilitated more easily through Bitcoin payments than through foreign exchange conversions that need to happen to enable cross-border trades today.

So a lot of people see a lot of promise in central bank digital currencies. I think there will be a lot of efficiencies that get created by them, but those are going to still require all of that translation and exchange rate risk that you carry in moving from country to country whereas a Bitcoin is a Bitcoin in every country.”

It is possible for countries worldwide to conduct trades using Bitcoin as a base unit, according to Kaul.

“I do still think that the potential to see [BTC] used as the base unit of international trade exists. At a minimum, you’re going to see it used for certain types of trade and that means that every country is going to have to hold some reserves.

So I just see it working its way increasingly into the traditional banking ecosystem as just a foundational part of that system, and I think the question then becomes: over time, do people start to gravitate more to something that works globally and isn’t tied to any government’s policies?”