Stephen Harper, an economist and the former prime minister of Canada, said bitcoin could potentially see use as a reserve currency, but isn’t going to supplant the U.S. dollar’s international role.
In an interview with Cambridge House’s Jay Martin on Sunday, Harper acknowledged that the dollar had been on a downtrend, but said there were few viable international alternatives, even when looking at the euro and the yuan.
“Unless the U.S. becomes a catastrophe, it’s hard to see what the alternative is to the U.S. dollar as the world’s major reserve currency. Other than you know gold, bitcoin, … a whole basket of things, right?” said Harper. “I think you’ll see that the number of things that people use as reserves will expand, but the U.S. dollar will still be the bulk of it.”