De Dollarization Will Set Bitcoin Up Being A Key Player In Global Currencies
With the De-dollarization it’s been projected that bitcoin is going to benefit deeply from this actions, with the current movement by china drawing other countries away from the US dollar will have a negative impact on the country economy as it’s said that the US will witness domestic inflation. In a recent post by the go founder of bitMex which he said in a blog post that as countries start looking out for their own best interests rather than serving as slaves to the Western financial system, central banks of the global South will diversify how they save their international trade income.
The first choice will be to increase gold allocations, which are already underway. And as Bitcoin continues to prove it is the hardest money ever created, I expect that more and more countries will at least start to consider whether it is a suitable savings vehicle alongside gold.
Hayes in he’s prediction says that there will be a time where there will various currencies but no global reserves which will set bitcoin up to be a key player.
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