As per the latest reports, Dan Nathan has made a statement that is sending a clear message to the corporates of the United States. Nathan has stated that the Government of the United States will not keep letting the corporates of the country convert their USD to Bitcoin (BTC).
For those who do not know, Dan Nathan is the founder of the firm known as Risk Reversal Advisors. While making his statement, Nathan specifically named Elon Musk to communicate his message to all the corporates in the country.
According to Nathan, there is no chance that the United States Government would ever let the dollar lose to any other currency. The country holds the dollar in very high regard and it will not let any other currency surpass it as the reserve currency of the world.
The US Government knows really well that if the corporates keep converting their dollars into bitcoin, the dollar will soon lose its worth. If that happens, then bitcoin (BTC) would eventually replace the dollar as the reserve country of the entire world. The above remarks and comments were made by Nathan during his interview at CNBC last week.
The reason why Nathan mentioned Elon Musk during the interview because it was just last week when Tesla had announced that it had invested $1.5 billion into acquiring Bitcoin (BTC).
He also added that Elon Musk is one of the corporates that are now investing heavily in bitcoin (BTC). Musk also announced that it was going to allow the customers to pay for its Tesla products through bitcoin (BTC).
This goes onto show that the corporate community in the United States is now leaning more towards BTC than USD.
Nathan has made his name in the advisory sector by acting as the principal at Risk Reversal Advisors. The firm “Risk Reversal Advisors”, is known for offering consulting services to investment advisors, private companies, and investment banks.
Nathan has spent more than a decade working as the options and equity trader at firms offering hedge funds including Cheyne Capital, Exis, SAC, and Merrill Lynch.
He stated that Elon Musk will soon be getting under a lot of heavy fire by the Securities and Exchange Commission (SEC) of the United States. He added that it is not only Elon Musk that will be facing a lot of a hard time from the US SEC but all the corporates that are busy converting USD to BTC.
He also stated that if things continue to go like this and corporates keep converting USD to BTC, the US SEC may do the unthinkable. The US SEC would end up introducing regulations that would completely prohibit and ban the use of cryptocurrencies in the country.