Bitcoin: US Government won’t allow corporates to keep replacing dollars with Bitcoin, warns investment advisor

round silver and gold coins

Dan Nathan offered his view, according to the news site at Bitcoin official tantrum, says that the US government will not keep allowing corporations like Elon Musk’s Tesla to replace dollars with Bitcoin. They won’t ” let the dollar fall away from being the reserve currency for the world, “which could happen if corporations keep replacing dollars in their balance sheets with Bitcoin.

Nathan is the principal of Race SK Reversal advisors, which offers consulting services to investment banks, investment advisors, and private companies. He spent the late 1990’s and the 2000s as an equity and options trader at the hedge fund firms SAC, Exis, Cheyne Capital, and within the equity derivatives group of Merrill Lynch.

Following the BTC investment by Tesla, analysts are predicting that a flood of companies will be doing the same and put Bitcoin in their balance sheets. Twitter Inc. has already said that it has been considering both adding Bitcoin as cash reserves and paying employees and vendors in the cryptocurrency.

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