Franklin Templeton strategist sees every national treasury holding Bitcoin and says BTC will be the base unit of trading

A strategist at global investment giant Franklin Templeton says they envision that one day every national treasury will hold Bitcoin (BTC) and that the crypto king will eventually become the basic unit of trading.

In a new interview on crypto influencer Natalie Brunell's YouTube channel, Sandy Kaul, head of digital asset and industry advisory services at Franklin Templeton, says that we have already started to see nation-states take over the leading crypto asset by market cap.

Kaul also points out that BTC will be even more efficient for national treasuries than central bank digital currencies (CBDCs).

“I think you're starting to see [country’s holding BTC]and you're starting to see that even less developed countries want to play on a level playing field by pooling some of their purchasing power around Bitcoin and using that to compete more effectively with larger countries and larger economies…

I think so too [BTC is] will become something that every treasury will need to keep an eye on as parts of its business will be conducted more easily through Bitcoin payments than through foreign exchange conversions that must take place today to enable cross-border transactions.

Many people therefore see a lot of potential in central banks’ digital currencies. I think there are a lot of efficiencies gained from this, but these still require all the translation and exchange rate risk that comes with moving from country to country, whereas a Bitcoin is a Bitcoin in every country.”

According to Kaul, it is within the realm of possibility for countries around the world to conduct business using Bitcoin as a base unit.

“I still think the potential can be seen [BTC] used as the basic unit of international trade exists. At least it will be used for certain types of trade, and that means each country will have to hold certain reserves.

So I see it penetrating more and more into the traditional banking ecosystem, just as a fundamental part of that system, and I think then the question becomes: over time, do people start to become more interested in something that works globally and doesn't? is bound? to the policies of any government?”

Bitcoin is trading for $42,051 at the time of writing.

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