Bitcoin Enthusiast Likely to Be Trump’s Pick for World Bank President

Sources at Bloomberg have recently revealed that crypto-enthusiast Mohamed El-Erian is one of the candidates that Trump is considering making the next World Bank President in the face of Jim Yong Kim’s departure.

Date: 
February 04, 2019
Read time: 
2 minutes

Bitcoin Enthusiast Likely to Be Trump’s Pick for World Bank President

Author: Dylan B
Date: 
February 04, 2019
Read time: 
2 minutes

Sources at Bloomberg have recently revealed that crypto-enthusiast Mohamed El-Erian is one of the candidates that Trump is considering making the next World Bank President in the face of Jim Yong Kim’s departure.

Sources at Bloomberg have recently revealed that crypto-enthusiast Mohamed El-Erian is one of the candidates that Trump is considering making the next World Bank President in the face of Jim Yong Kim’s departure.

What we’re getting is the realization that adoption is not going to be as big and as quick as the proponents of crypto would like.

To give a little bit of background on the candidate, El-Erian is a 60-year-old chief economic advisor for a European financial services company called Allianz. It is in this position that El-Erian’s views on crypto became crystal clear. In the past, Allianz’s CEO, Andreas Utermann has made the argument that regulators should outlaw cryptocurrency as a whole.

El-Erian disagreed with Utermann’s statements and voiced his opinion that Bitcoin was a disruptive technology that would help to shape a new financial landscape and would further improve peer-to-peer transactions.

cryptomaniaks

That being said, it should be noted that he is more of a realist in the crypto community, accurately predicting the fall of Bitcoin after the end of the final quarter of 2017 and remaining relatively accurate about the true price of Bitcoin. About the crash, he stated:

“What we’re getting is the realization that adoption is not going to be as big and as quick as the proponents of crypto would like. I think it’s going to be there, it’s going to last for a long time, it’s going to play a role in the ecosystem, but it’s not going to be the currency that a lot of proponents would like it to be.”

El-Erian’s potential position would allow him to oversee an international financial institution that has been designed to alleviate global poverty by lending to capital projects in developing countries. Given the fact that the World Bank has already settled a $73 million bond on an Ethereum-based blockchain and the fact that potential use of crypto in developing countries has already been debated and applied, we may be looking at a major step forward in terms of cryptocurrency adoption should El-Erian land this position.

Are you in agreement with El-Erian about the revolutionary aspects of Bitcoin? Are you looking to acquire some of your own but are having trouble doing so? If so, learn how to invest in Bitcoin with our simple, comprehensive investment guide!

Posted by Dylan B

Dylan Buckley is a writer based in California. He became interested in cryptocurrency upon discovering it in 2014 and soon started investing as well as writing for a wide variety of clients and crypto-startups in the space. When he is not producing content for individuals and businesses, he is typically working on his own self-development content or making music.

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