Expert Questions Bitcoin's Ability to Overtake the Dollar

Why Bitcoin Isn’t Ready to Dethrone the Dollar Says Financial Analyst

As digital money is increasing in every sector, many people think that cryptocurrencies like Bitcoin can replace traditional currencies. But a Russian financial expert, Viktor Pershikov, recently shared his thoughts on this hottopic, offering a fresh perspective on the future of money.

Pershikov, who has been studying financial markets for over 15 years, believes that while cryptocurrencies are useful, they won't be taking the U.S. dollar's crown anytime soon. This comes at a time when Russia is looking for new ways to handle money after facing economic sanctions due to the conflict with Ukraine.

"Cryptocurrencies can do some of the same jobs as regular money," Pershikov explained. "But they're not ready to replace the U.S. dollar yet." He pointed out a big problem with using Bitcoin for everyday transactions: its value changes too quickly. "While you're sending Bitcoin to someone, its price could go up or down before it even gets there," he said. This unpredictability makes it tricky for businesses and people to use cryptocurrencies regularly.

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