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Wharton professor issues gruesome warning on Bitcoin
Jeremy Siegel, a Wharton Business School professor and the chief economist at the investment management firm WisdomTree, stated to CNBC that Bitcoin may turn out to be a serious competitor to the U.S. dollar as the world's reserve currency. Speaking on the GENIUS Act, Siegel said, Bitcoin is 'a threat'. The GENIUS Act, enacted July 18 with bipartisan backing, demands a complete stablecoin regulatory framework. The professor also stated that while there is an ongoing push by the U.S. legislative branch to regulate digital assets, he believes parts of the pending crypto bill are "important catalysts" for the industry. ... (full story)
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