Crypto Is Macro Now: The Growing Influence of Cryptocurrency on Global Macroeconomics and Financial Systems

In a recent SlateCast episode, Noelle Acheson, author of the “Crypto Is Macro Now” newsletter, joined host Liam “Akiba” Wright and CryptoSlate CEO Nate Whitehill

In a recent SlateCast episode, Noelle Acheson, author of the “Crypto Is Macro Now” newsletter, joined host Liam “Akiba” Wright and CryptoSlate CEO Nate Whitehill to discuss cryptocurrency’s increasing influence on global macroeconomics and financial systems.

Acheson highlighted that crypto, especially Bitcoin and stablecoins, is significantly impacting monetary policy and capital flows around the world.

“There is an alternative now to the central bank currency, to the commercial bank currency, to the fiat currency. There is an alternative that the authorities are struggling to control. And that is important for monetary policy,” she stated.

The discussion explored how cryptocurrencies offer options for people in countries with unstable currencies or restrictive financial policies.

Acheson also shared her thoughts on how the 2024 U.S. presidential election could affect crypto regulations:

“A Trump victory would be better for crypto. A Kamala victory, we don’t know. This is just still the very big unknown.”

She suggested that a change in SEC leadership could drastically alter the regulatory approach to cryptocurrencies, irrespective of which party wins.

Acheson's perspective challenges the common narrative that crypto mainly poses risks to financial systems.

“That crypto is not all about risk. That it is actually relatively safe. That, this is especially overlooked, it enhances transparency. I mean, why would a regulator not want to encourage the development of marketplaces where they can have a node and in real time see where the money is moving?” she stated.

The conversation touched on Bitcoin’s unique position in the financial world. According to Acheson:

“Bitcoin cannot go to zero because nobody can switch it off… As long as there is one pair willing to swap Bitcoin, it does not go to zero.”

She also mentioned Bitcoin's role as a sentiment indicator for global markets, especially when traditional markets are closed.

The panelists discussed the possibility of more countries following El Salvador’s lead in adopting Bitcoin.

“We’re going to see more of them… There was a tweet thread out by Daniel Batten yesterday, today, I forget, I was just reading it this morning… [He] found eight governments, eight nation states that are using Bitcoin for environmental reasons,” Achison mentioned.

This suggests a growing trend of countries exploring Bitcoin for both financial and environmental purposes.

The SlateCast episode with Noelle Achison offered deep insights into the evolving relationship between cryptocurrency and macroeconomics.

From influencing monetary policies to potentially reshaping national financial strategies, crypto’s impact on the global economic landscape appears to be growing.

As regulatory frameworks develop and more countries explore crypto adoption, the intersection of digital assets and traditional finance promises to be a critical area to watch in the coming years.

Listen to the full episode below:

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