Cryptocurrency
The Pandemic May Impede the US Dollar’s Dominance; Will Bitcoin be the Big Winner?
As reported by NewsBTC, “The global Coronavirus pandemic has had far reaching political and economic effects, leading to widespread money printing that will eventually catalyze immense inflation. So far, Bitcoin has been a beneficiary from this ongoing economic turbulence. “There now appears to be a strong case for the idea that the US Dollar will […]
As reported by NewsBTC, “The global Coronavirus pandemic has had far reaching political and economic effects, leading to widespread money printing that will eventually catalyze immense inflation. So far, Bitcoin has been a beneficiary from this ongoing economic turbulence.
“There now appears to be a strong case for the idea that the US Dollar will cede its global dominance in the years and decades following this economic crisis.
“This shift could come about due to the U.S. seeing a declining share of global GDP, while some countries also watch their access to USD wane due to an inwards turn of domestic manufacturing and a drop-in tourism stemming from the U.S.
“Although Bitcoin is unlikely to capture any significant a fraction of the Dollar’s global dominance, it could see heightened rates of global adoption due to this potentially imminent shift…”