Bitcoin (BTC) beats both fiat currency and gilt considering it does non need settlement, RT host Max Keiser has said.

In the latest episode of the network'south Keiser Report on Nov. 7, the well-known Bitcoin bull explained that other forms of transactions need settlement fourth dimension, but Bitcoin does not.

Keiser: BTC "uniquely self-settling"

This is considering, in Bitcoin, the transaction and settlement are inseparable from one another. Moving BTC between wallets merely ways updating a ledger, which implies instantaneous settlement as miners confirm the transactions.

"There'southward a lot of friction, both in paper and in gold. Bitcoin, uniquely, is self-settling — the transaction is the settlement. When the transaction hits, it settles," Keiser summarized.

The episode appeared equally governments supporting paper fiat with digital versions of national currencies continue to form a major talking point worldwide.

As Cointelegraph reported, China looks to exist the outset state to issue a digital yuan, while other central banks are eyeing the possibility, including the European Key Bank, or ECB.

While digital transactions would cut both costs and settlement times, such currencies' relationship to the fiat organisation ultimately makes them political tools — with Keiser pointing the "weaponization" of the U.South. dollar for sanctions — and subject field to censorship equally well equally other centralization pitfalls.

Anti-Bitcoin Congressman "doesn't understand he's lost"

Keiser meanwhile likewise criticized U.S. congressman Brad Sherman, the notorious Bitcoin critic who continues to argue for an outright ban on cryptocurrency.

"Brad Sherman is going to a gunfight with a knife, he has failed to take on board exactly what the dimension of this boxing is going to be," he said. Keiser added:

"He doesn't empathise he's already lost."

Other governments looking to undermine U.South. dollar supremacy should thus open up their access to Bitcoin and brand information technology office of their reserves. Rumors have long swirled around Russia, in particular, buying up large amounts of Bitcoin in the face up of international sanctions.