The Implications of Replacing National Currency with Bitcoin

The Implications of Replacing National Currency with Bitcoin

how replacing national currency with Bitcoin would effectively eliminate the role of central banks as key economic institutions. This would make traditional monetary policies aimed at achieving economic stability ineffective, as central banks would lose the ability to utilize their tools. Without control over the monetary base, central banks would struggle to set minimum reserve requirements for banks and would no longer serve as the lender of last resort. This shift would render these countries' monetary policy tools obsolete, posing significant challenges for central banks.

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