Mike Novogratz, the founder of the crypto bank Galaxy Digital, believes that the United States will be at a competitive disadvantage if they do not create a digital currency in the near future. He stated this in an interview with MarketWatch.
According to him, the importance of this step is underlined by China’s progress towards issuing a digital currency.
“For me, this is an existential crisis, we need a digital dollar,” said the investor.
According to Novogratz, there is no evidence that the Chinese government is buying bitcoins, let alone using the first cryptocurrency as a weapon. So he commented on the assumption made earlier by the co-founder of PayPal Peter Thiel.
“Sometimes he likes to say provocative things,” added Novogratz.
Recall that the prototype of the digital dollar in the United States is planned to be presented by July. It is created by employees of the Federal Reserve Bank of Boston and the Massachusetts Institute of Technology.
The Federal Reserve System (FRS) began experimenting with digital currency in February 2020.
Fed Chairman Jerome Powell noted earlier that it is important for the United States not to be the first to issue a digital currency, but to do it with the right approach.
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