Market Commentary von Patrick Heusser, Crypto Finance AG
The neverending demand for the US dollar
Today, I'd like to share something, which in my opinion is a very well summarised article about the global demand for the US dollar, and the possible implications on the crypto asset ecosystem.
The article tackles two questions that crypto investment professionals are currently discussing.
- Is the US dollar losing its world reserve status?
- Will bitcoin gain in value if the US dollar loses its status?
Bridge between traditional financial system and the crypto-financial system is needed
I agree with the report's claim that in the near to mid-term future, the US dollar will maintain its status. I also agree with the analysis that stablecoins will gain traction, and that it will be necessary to build a bridge between the traditional financial system and the crypto financial system.
It will not be easy as governments do not like to lose control over their monetary power, but my guess is that the 2008 financial crisis kicked off a revolutionary wave that is already beyond the point of no return. Governments will not be able to stop the revolution (just slow it down).
Read the full article here: Crypto Dollars and the Evolution of Eurodollar Banking.