US Government Won’t Allow Corporates to Keep Replacing Dollars With Bitcoin, Warns Investment Advisor – Regulation Bitcoin News

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Dan Nathan, founder of Risk Reversal Advisors, says the U.S. government will no longer allow companies like Elon Musk’s Tesla to replace dollars with bitcoin. They will not allow the dollar to cease to be the world’s reserve currency, which could happen if companies continue to replace dollars with bitcoin on their balance sheets.

The US government will not allow Bitcoin to replace dollars, says the head of risk reversal advisors

Dan Nathan gave his view on the future of Bitcoin in an interview with CNBC last week. His comments followed news that Elon Musk’s Tesla is investing $ 1.5 billion in Bitcoin and plans to approve the cryptocurrency as a means of payment for its products in the near future.

Nathan is the principal of Risk Reversal Advisors, which provides advisory services to investment banks, investment advisors and private companies. He spent the late 1990s and 2000s trading stocks and options with hedge fund firms SAC, Exis, Cheyne Capital and within the equity derivatives group of Merrill Lynch.

He started by claiming that “the US Treasury Department and the US government” are not “going to let this get out of hand if companies literally start replacing dollars with bitcoin”. When asked what regulators could do to prevent companies from including Bitcoin on their balance sheets like Tesla did, Nathan exclaimed:

You can make hell of it. You can do that.

He added, “We have seen that before. We saw it to a certain extent. The founder of Risk Reversal Advisors reiterated, “I’m just telling you” that they are not “dropping the dollar from the reserve currency for the world,” and stressed that it will indeed as companies increasingly replace dollars with bitcoin.

Nathan continued, “We are in a state of euphoria right now,” adding that both Tesla and Bitcoin are “two risk assets that have made more than a trillion dollars in the past six months, all based on Hopium. ”

The consultant went on to say: “All these people who make a lot of money doing these two things just understand that there has to be some kind of gravity at some point, and the two of them together create: I think a very difficult situation when both of them together are going down, and the ripple effect we’re about to see in the currency markets, financial markets and the like could be great. Nobody is talking about it right now. There are no more naysayers in Bitcoin. “

Following Tesla’s BTC investment, analysts predict a flood of companies will do the same and add bitcoin to their balance sheets. Twitter Inc. has already announced that it will both add Bitcoin as a cash reserve and pay employees and providers 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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