Fidelity’s Crypto Followers Want Cryptocurrencies as New Bill Denomination
Fidelity recently asked its followers on social media to choose a new bill denomination, and within two hours, more than half of the answers were about cryptocurrencies. BTC and SATS were among the top replies, showing the growing influence of crypto in the global economy. However, there were also traditional finance (Tradfi) answers and concerns about inflation. Interestingly, someone even suggested minting a trillion-dollar U.S. coin to pay off the national debt, which would further devalue the dollar.
Key Points:
– More than half of the responses to Fidelity’s question about choosing a new bill denomination were related to cryptocurrencies.
– BTC and SATS were popular choices among the crypto enthusiasts.
– There were also concerns about inflation and suggestions for higher bill denominations.
– Minting a trillion-dollar U.S. coin was proposed as a way to pay off the national debt.
– One clever response mentioned smart contracts and included a “$12 tip included” denomination.
Hot Take:
Fidelity’s social media experiment shows that cryptocurrencies have gained significant traction among their followers. The overwhelming support for crypto as a new bill denomination highlights the growing acceptance and influence of these digital assets in the global economy. It also reflects the concerns about traditional fiat currencies and inflation. The suggestion of minting a trillion-dollar coin, although not a joke, reveals the desperate measures some propose to address the national debt. Overall, this interaction demonstrates the crypto community’s engagement and enthusiasm for reshaping the financial landscape.
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