Key Takeaways:
The US dollar is losing its reserve currency status.
The USD is down to 42% of global reserves, while gold is rapidly rising.
As digital gold grows in appeal, the 21st century won’t be dollar-denominated.
The dollar is losing its reserve currency status. USD is now down to 42% of global reserves, while gold is rapidly rising. According to The Kobeissi Letter, which provides leading commentary on global capital markets, gold is quickly replacing fiat currencies as a reserve currency.
Source: Kobeissi Letter
What are the implications for the broader economy, and how does a dwindling dollar worldwide affect Bitcoin and crypto?
The Rise of Gold as a Reserve Currency
American entrepreneur, angel investor, and creator of “The Network State,” Balaji Srinivasan, broke it down. He explained that amid this shifting economic panorama, “digital gold,” like Bitcoin, is becoming the reserve currency of the individual, while gold is returning as the reserve
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