Bitcoin Will Replace USD As Global Reserve: Binance Founder CZ
Binance founder Changpeng Zhao (CZ) recently spoke at the Bitcoin Conference in Hong Kong. During his talk, CZ said that he believes Bitcoin (BTC) will become the global reserve currency, thereby replacing the US dollar (USD). CZ also spoke about Bitcoin’s role as the “gold” of the crypto ecosystem. However, the crypto billionaire highlighted BTC’s technical limitations. The network can only handle seven transactions per second at the moment. CZ has an extremely bullish outlook on Bitcoin (BTC). In an interview with Rug Radio, he said Bitcoin (BTC) could go between $500,000 and $1 million in this cycle. This forecast comes without BTC’s need to replace the US dollar.
How Likely Is Bitcoin To Replace The US Dollar (USD)?
CZ is not the only one who thinks that the US dollar’s position as the global reserve currency is under threat. BlackRock CEO Larry Fink also believes that the US dollar’s dominance will not last forever. Fink cites the growing US debt as a reason for his distrust of the dollar. Fink believes alternate currencies, or digital currencies like Bitcoin (BTC), could take the US dollar’s place.
Sanctioned countries like Russia, Iran, and North Korea have turned to Bitcoin (BTC) and other currencies to bypass the US dollar (USD).
Many nations have already begun using national currencies for trade settlements. China, in particular, is leading the race to ditch the US dollar. The country also aims to challenge the SWIFT system with its own CIPS system. Other fellow BRICS countries have also expressed their desire to move away from the US dollar.
Also Read: How Much Bitcoin Do SpaceX, Tesla and Figma Own in 2025?
The de-dollarization movement has gained substantial support over the last decade. The US dollar’s position has seen a massive dip, with the emergence of the Chinese yuan as an alternative. However, despite the rising anti-USD sentiment, replacing the dollar-based trade system is no easy task. No other currency is as liquid as the dollar. This gives the US dollar a competitive edge.
Read More
Eric Trump backs Bitcoin growth, says price will reach $1 million
Bitcoin Will Replace USD As Global Reserve: Binance Founder CZ
Binance founder Changpeng Zhao (CZ) recently spoke at the Bitcoin Conference in Hong Kong. During his talk, CZ said that he believes Bitcoin (BTC) will become the global reserve currency, thereby replacing the US dollar (USD). CZ also spoke about Bitcoin’s role as the “gold” of the crypto ecosystem. However, the crypto billionaire highlighted BTC’s technical limitations. The network can only handle seven transactions per second at the moment. CZ has an extremely bullish outlook on Bitcoin (BTC). In an interview with Rug Radio, he said Bitcoin (BTC) could go between $500,000 and $1 million in this cycle. This forecast comes without BTC’s need to replace the US dollar.
How Likely Is Bitcoin To Replace The US Dollar (USD)?
CZ is not the only one who thinks that the US dollar’s position as the global reserve currency is under threat. BlackRock CEO Larry Fink also believes that the US dollar’s dominance will not last forever. Fink cites the growing US debt as a reason for his distrust of the dollar. Fink believes alternate currencies, or digital currencies like Bitcoin (BTC), could take the US dollar’s place.
Sanctioned countries like Russia, Iran, and North Korea have turned to Bitcoin (BTC) and other currencies to bypass the US dollar (USD).
Many nations have already begun using national currencies for trade settlements. China, in particular, is leading the race to ditch the US dollar. The country also aims to challenge the SWIFT system with its own CIPS system. Other fellow BRICS countries have also expressed their desire to move away from the US dollar.
Also Read: How Much Bitcoin Do SpaceX, Tesla and Figma Own in 2025?
The de-dollarization movement has gained substantial support over the last decade. The US dollar’s position has seen a massive dip, with the emergence of the Chinese yuan as an alternative. However, despite the rising anti-USD sentiment, replacing the dollar-based trade system is no easy task. No other currency is as liquid as the dollar. This gives the US dollar a competitive edge.
Read More