Former Coinbase CTO praises Bitcoin, warning of possible failure of the US Dollar
BTC
BTC/USDT
$92,210.05
+1.22%
$92,210.05
+1.22%
(24s)24h Volume
$21,734,763,811.51
24h H/L
$92,519.95 / $90,128.44
Change: $2,391.51 (2.65%)
Long/Short
68.0%
Long: 68.0%Short: 31.9%
Funding Rate
+0.0049%
Longs pay
Data provided by COINOTAG DATALive data
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0 commentsFormer 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.