{"id":322129,"date":"2022-03-04T12:21:35","date_gmt":"2022-03-04T17:21:35","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=322129"},"modified":"2022-03-04T12:21:35","modified_gmt":"2022-03-04T17:21:35","slug":"wharton-professor-says-bitcoin-can-overtake-the-us-dollar","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/wharton-professor-says-bitcoin-can-overtake-the-us-dollar","title":{"rendered":"Wharton professor says Bitcoin can overtake the US dollar"},"content":{"rendered":"
The US economy is being affected by the rising inflation levels, and people have been resulting to Bitcoin as a store of value. A professor at the Wharton School of the University of Pennsylvania is now urging the US Federal Reserve to raise the interest rates and shield the dollar from Bitcoin.<\/p>\n
The finance professor, Jeremy Siegel, notes that Bitcoin could “take over” the dollar; hence the Federal Reserve needed to step in and protect the fiat currency from devaluation.<\/p>\n
Siegel appeared in an interview with CNBC<\/a> where he talked about how the Federal Reserve Chair, Jerome Powell, was handling the recent events in the US economy. The Federal Reserve has been talking about raising the interest rates in March, but this could fail to happen following the Russia-Ukraine crisis.<\/p>\n