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Understanding the Coming Currency Cold War
Will the future of currency be led by the U.S., China, Bitcoin or some combination we can barely imagine today?
Updated Sep 14, 2021, 10:01 a.m. Published Sep 27, 2020, 1:00 p.m. 1 min read
Will the future of currency be led by the U.S., China, Bitcoin or some combination we can barely imagine today?
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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
This week’s Long Reads Sunday is a reading of “The Currency Cold War: Four Scenarios” by Jeff Wilser – part of CoinDesk’s Internet 2030 series.
In it, Wilsner talks to experts about four scenarios:
- A multi-currency scenario, where exchange is abstracted away via digital wallets
- A China-led scenario
- A U.S.-led scenario
- A bitcoin/non-state currency-led scenario
In addition to reading, NLW gives his take on which scenario is most likely.
See also: Sven Henrich on the Ever-Weakening Economic Cycle
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
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NYDIG, meanwhile, rejected the basis-trade theory, citing the large discount and the lack of an unusual spike in corresponding CME bitcoin futures volume.
What to know:
- A $1.26 billion block sale of BlackRock’s IBIT shares was likely a rapid exit by a large investor, not an arbitrage unwind, according to NYDIG.
- The seller of the $1.26 billion IBIT block accepted a 2.3% discount ($29.5 million loss), signaling a priority on speed and certainty over maximizing price.
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