Mike Novogratz: “The US should launch a digital dollar, otherwise the country will face a crisis " – Bits Media

Galaxy Digital General Mike Novograts (Mike Novogratz) considers, that the US government must develop a digital dollar. Otherwise, the country "will remain behind the whole world".

Novograts has always been a supporter of bitcoin and other cryptocurrencies. He is convinced, what Digital assets will become an integral part of the future. The billionaire adheres to the digital currencies of central banks the same opinion. Therefore, he called on the American government to seriously tune in to launch a digital dollar, So that the United States is again taken under the control of "financial brothers of the board". According to Novograz, The country risks losing its competitive advantages over China, who is already working on digital yuan.

Despite, that the cryptocurrency of the People’s Bank of China (NSC) Still inaccessible to the general public, digital yuan has already passed several stages of testing in Shenzhen cities, Beijing, Sucžou and Čéndu, to be prepared for implementation at the state level. Galaxy Digital General said, that from the point of view of financial technology, China is ahead of the United States. Therefore, the launch of the digital dollar will allow the United States to keep up in this regard from other countries, otherwise the situation will only aggravate over time. Novograts said:

“We need a digital dollar. Otherwise, a crisis of existence will come in the United States ".

Really, The country is cautiously related to the latest technologies and new investment products. So, United States Securities and Exchange Commission (SEC) Not yet ready to arrive for traded exchange funds (ETF), tied to bitcoin or ether. Meanwhile, Canada has already approved the launch of several ETF on bitcoin.

One of the main tasks of the digital yuan is, To prevent the competition of the Chinese state currency with the US dollar. Chinese regulators do not support bitcoin and the primary placement of tokens (ICO). However, some participants in the cryptocurrency industry consider, that bitcoin can be used by China as a “financial weapon” against the United States. This was recently announced by the co -founder of PayPal payment company Peter Til (Peter Thiel). 

Novograts considered his statement absurd due to the lack of evidence, that the Chinese government buys bitcoin and is working on cryptocurrency weapons. According to him, Til loves to speak provocative things, Therefore, do not treat them with all seriousness. However, the American government should really speed up the transition to a digital dollar.

Recall, that in February, the chairman of the US Federal Reserve Jerome Powell (Jerome Powell) announced readiness to hold public discussions of the digital dollar. Besides, Information has recently appeared, that the US government is enhancing the observation of China's plans for the release of state cryptocurrency due to fears, that digital yuan can undermine the dominance of the dollar in the world market.