Move over U.S. dollar, Bitcoin’s self-settlement is key in disarming the weaponized world reserve currency, says Keiser
This is because, in Bitcoin, the transaction and settlement are inseparable from one another. Moving BTC between wallets simply means updating a ledger, which implies instantaneous settlement as miners confirm the transactions.
“There’s a lot of friction, both in paper and in gold. Bitcoin, uniquely, is self-settling — the transaction is the settlement. When the transaction hits, it settles,” Keiser summarized.
While digital transactions would cut both costs and settlement times, such currencies’ relationship to the fiat system ultimately makes them political tools — with Keiser pointing the “weaponization” of the U.S. dollar for sanctions — and subject to censorship as well as other centralization pitfalls.