Cryptocurrency could replace the U.S. dollar

Rebecca Walser, CEO, Walser Wealth Management, explains how crypto could replace the dollar and what it means for you.

Transcript

00:00What's the new currency? The new currency is going to be some kind of blockchain, right? Some kind of

00:04blockchain where we don't necessarily need a global world reserve currency. If you look at

00:08the USD and Forex, it's already dropped precipitously in the last 10 years. In the last

00:13five years, it's been exponentially dropping. So the new currency will be bi-directional trade

00:18between countries and maybe their own individual stable coin of their own crypto, of their own

00:23central bank digital currency. So are you buying crypto right now? Absolutely, always. What

00:27specifically? I mean, of course, I love the grandfather of Bitcoin, but I think XRP,

00:31Ethereum is a really smart contract platform. So again, everyone needs to be exposed to the fourth

00:36industrial revolution on all of the technologies that are available. Just understand that that

00:41doesn't mean it's a sure bet and it's not going to go straight up from A to Z. It's going to have

00:45volatility and certainly retrenchment is going to be part of that. Do you wait for a pullback to buy

00:49Bitcoin? I mean, it is 118 something right now, so it is pretty high. I mean, you know, we have seen it.

00:55If we start to get any kind of Federal Reserve concession to probably go higher. Right now,

01:00it's testing as a use case for inflation protection and hedging, right? So I do think

01:04that Bitcoin long term is way above 118. But just remember, it could take years and it could have

01:09retrenchment as well.