Former Coinbase CTO praises Bitcoin, warning of possible failure of the US Dollar

Former Coinbase CTO Balaji Srinivasan believes that the US dollar (USD) is not too big to fail and expects Bitcoin (BTC) to take its place as the global reserve currency.

Srinivasan noted that historical data shows people tend to move away from depreciating currencies, and the USD falls into this category.

While not everyone believes that BTC will replace the USD, it is clear that the USD has weakened against other cryptocurrencies.

The USD index has fallen by 8.9% in the last six months and lost 1.34% of its value last year. Meanwhile, BTC has continued to strengthen, rising by 46.18% in the last six months and 65.54% since the beginning of the year.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Trump Group’s $499 Smartphone Exposed: Purism CEO Debunks “Made in America” Claim

COINOTAG News reported on June 29th that the Trump...

Bitcoin Price Breakthrough at $10.9K Could Trigger $624M Short Liquidation Surge on Major CEXs

According to Coinglass data reported by COINOTAG News on...

AguilaTrades Amplifies BTC Long Position to $216 Million as Bitcoin Surges Past $108,000

According to Ashes Monitoring, AguilaTrades initiated a substantial long...

Bitcoin MVRV Nears Golden Cross with 30-Day SMA, Signaling Potential New Uptrend

According to analyst @ali_charts, Bitcoin's MVRV (Market Value to...

London Bitcoin Company Rebrands from Vinanz with $3.85M Bitcoin Holdings and New Regulated Investment Channel

Vinanz, a UK-listed firm, has strategically positioned itself in...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img