Sen. Warren torched over US digital currency push: She's living in a ''fictitious land,' market expert says
A central bank digital currency presents an 'enormous risk' to citizens, says David Tawil
Prochain Capital President David Tawil weighs in on the possibility of a U.S. digital dollar.
During an interview on "Mornings with Maria" Prochain Capital President David Tawil slammed Sen. Elizabeth Warren, D-Mass., for living in a "fictitious land" after calling on the U.S. to create a central bank digital currency which would invade citizens' privacy.
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Elizabeth Warren wants the U.S. to create its own digital currency. (Photo by Mandel Ngan-Pool/Getty Images) (Photo by Mandel Ngan-Pool/Getty Images / Getty Images)
DAVID TAWIL: As a crypto focused fund, we're incredibly bullish on cryptocurrencies broadly. Bitcoin, Ethereum, Solana, GBTC – you know listed equity and MSTR MicroStrategy. Janet Yellen went ahead and told the truth. In contrast to what Elizabeth Warren has been saying, we are not getting a CBDC, a central bank digital currency in this country any time soon. And frankly, Ted Cruz has just put forth a bill that would go ahead and make it illegal to go ahead and issue a CBDC. And I agree with him on this. I think Elizabeth Warren is living in a fictitious land. And Janet Yellen is telling the truth, which is a central bank digital currency requires an incredible amount of resources.
And in the United States, that also presents an enormous risk because the government, by having a central bank digital currency, would have so much information on citizens about how much wealth they have, where they are spending, all sorts of rights that we hold inalienable. And, you know, something that we would be very hard-pressed to go out and part with is not going to happen quickly. I don't think it's going to happen at all. But Janet Yellen, at the very least, is saying, it's not happening any time soon. And I think that that's a good thing. That means that we will not have a central bank digital currency. However, the U.S. will continue to remain the world's reserve currency and for purposes of crypto assets in the United States. And I think most of the free world. Bitcoin, Ethereum and the likes of other crypto assets will continue to reign supreme and gained prominence.
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Prochain Capital President David Tawil weighs in on oil prices and a U.S. digital dollar.