Dan Nathan, the founder of Risk Reversal Advisors, says the US government will not allow companies like Tesla from Elon Musk to replace dollars with bitcoin. They will not ‘drop the dollar as the reserve currency for the world’, which could happen if companies continue to replace dollars in their balance sheets with bitcoin.
The US government will not allow Bitcoin to replace dollars, says the head of risk reversal advisers
Dan Nathan presented his views on the future of bitcoin last week in an interview with CNBC. His comments follow the news that Tesla of Elon Musk is investing $ 1.5 billion in bitcoin and plans to allow the cryptocurrency as a means of payment for its products in the near future.
Nathan is the head of Risk Reversal Advisors, which provides advisory services to investment banks, investment advisers and private companies. He spent the late 1990s and 2000s as a stock and options trader at hedge funds SAC, Exis, Cheyne Capital and within the equity-derived group of Merrill Lynch.
He began by claiming that “the US Treasury and the US government” will not allow this thing to get out of hand where literally companies are starting to replace dollars to a large extent ‘with bitcoin. On a specific question that regulators can do to stop companies putting bitcoin in their balance sheet as Tesla did, Nathan exclaimed:
They can regulate the hell out of it. This is what they can do.
He added: ‘We’ve seen it before. We have seen it to some extent. The founder of Risk Reversal Advisors confirmed: ‘I’m just telling you’ that they will not ‘drop the dollar as the reserve currency for the world’, stressing that this is effectively what is happening to companies that are increasingly making dollars replace. with bitcoin.
Nathan continues: ‘Right now we’re in a bit of a euphoric state,’ adding that both Tesla and bitcoin ‘are two risk assets that together have earned more than a trillion dollars over the past six months and are all based on hopium. ”
The adviser further commented: ‘All these people, who earn a lot of money for both of these things, only understand that at some point there must be some kind of gravity, and the two together take care of: I think a very difficult situation if they both start to decline together, and the ripple effect we will see on the foreign exchange markets, financial markets and the like could be huge. Nobody talks about it now. There are no more naysayers in bitcoin. ‘
Following the BTC investment by Tesla, analysts predict that a flood of companies will do the same and put bitcoin in their balance sheets. Twitter Inc. has already said that they are considering adding bitcoin as cash reserves and paying employees and sellers in the cryptocurrency.
What do you think of Nathan’s view of bitcoin and Tesla? Let us know in the comments below.
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