Monero’s Riccardo Spagni Believes Bitcoin Will Become Global Reserve Currency And XMR Will Co-Exist With BTC In The Future
Riccardo Spagni, developer at Monero, offers more insight on Bitcoin and Monero.
He addressed the security issue regarding XMR and talked about the SEC’s guidance on digital assets being classed as securities.
He addressed the issue of whether XMR can be classed as a security and his conclusion is that it cannot.
He has reportedly just said that people who are arguing that Bitcoin is the only crypto that will survive in the long term are not actually realizing that this goes “against human nature.”
CryptoGlobe reports that Spagni noted that it’s also part of human nature to not “agree on anything” and that he thinks “the chances of the entirety of the world agreeing to use Bitcoin only is like less than zero. I don’t see a future where Bitcoin is the only digital currency that anyone ever uses.”
Bitcoin to become a global reserve currency
These comments have been stated during a recent airing of Monero Talk.
Spagni also made sure to say that he is currently envisioning a world in which BTC will eventually become a global reserve currency.
He said that BTC has adequate privacy features and he also mentioned that the Lightning Network (LN) would allow Bitcoin to scale in an effective manner.
BTC vs. XMR
And about Monero (XMR) Spagni revealed that the privacy-oriented coin would definitely co-exist with BTC in the future.
He said that people who are looking for an enhanced level of privacy would definitely go for XMR for some of the transactions if they had to choose between BTC and XMR.
Spagni reportedly said: “Where multinational corporations want to move money around without tipping off their competitors that they’re moving money around,” and referred to “South American countries that are at risk of being kidnapped and extorted for their money are able to still receive this salary.”
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.