Harvard Professor Calls For BTC Integration In US Finance System

A Harvard professor, and known financial historian Niall Ferguson, believes that bitcoin should be integrated into the United States Financial System due to its ever-evolving role in the crypto and traditional finance space. Let’s see what the professor had to say in our latest Bitcoin news.

In a new article about the rising popularity of BTC and its role in the financial future, former Harvard professor Niall Ferguson thinks that the new presidential administration will benefit from integrating BTC into the US Financial system. Ferguson penned a long article on Bitcoin which is now getting noticed in the crypto community. In it, the professor commented on how the traditional naysayers softened the collective stances this year as the benchmark cryptocurrency outperformed most traditional investments.

We are living through a monetary revolution so multifaceted that few of us comprehend its full extent. And Bitcoin is winning it: https://t.co/UUt70De6YG

— Niall Ferguson (@nfergus) November 30, 2020

The article was retweeted multiple times, most recently by Dan Tapiero, who said that this will garner huge attention. He wrote:

 “Rather than seeking to create a Chinese-style digital dollar, Joe Biden’s nascent administration should recognize the benefits of integrating Bitcoin into the U.S. financial system,”

Shocking and Incredible.

“Biden should integrate #Bitcoin into US financial system.”

Most respected financial historian alive @nfergus bitcoin comments to attract huge attention.

Favorite Establishment figure on monetary issues to galvanize action. Wow.https://t.co/xIgPIWgg88

— Dan Tapiero (@DTAPCAP) November 30, 2020”

Ferguson also made more references to the Chinese digital yuan adding that its potential for adoption for remittance payments in the cross-border trade settlement is substantial. He also wrote previously on the virtues of BTC stating that there are fewer coins in circulations than there are millionaires in the world:

 “If millionaires collectively decided to hold just 1% of their wealth as Bitcoin, the price would be above $75,000 — higher, if adjustment is made for all the bitcoins that have been lost or hoarded.”

Ferguson made references to a number of big names in the financial world like Paul Tudor Jones, Stan Druckenmiller and Ray Dalio that seem to be turning bullish on BTC. Even Peter Schiff and Nouriel Roubini were mentioned in the article and they also started to change their stance on BTC. He added that the adoption still has further to go and quoted investor Wences Casers who said that after ten years of working without interruption, there will be more than a million new hodlers per month that will move more than a billion per day worldwide:

 “it has a 50% chance of hitting a price of $1 million per bitcoin in five to seven years’ time.”