The stablecoins with the largest market cap are pegged to the U.S. dollar, so what risk does de-dollarization pose to stablecoin users?
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Category: global reserve currency
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Brazil’s President Lula Urges Developing Countries to Abandon Dollar as Global Reserve Currency
According to Brazil’s president Luiz Inácio Lula da Silva, developing countries should abandon the U.S. dollar and strengthen their own national currencies. During a speech at the New Development Bank in Shanghai, Lula expressed his nightly pondering: “Why do all countries have to base their trade on the dollar?” Brazil’s President Wants to Reduce the […]Powered by WPeMatico
Former Treasury Official Warns of Complete Economic Implosion if US Dollar Loses Global Reserve Currency Status
Former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury Monica Crowley has warned of “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency. “That would mean the end of the U.S. dollar,” she said, predicting that “there would be a complete implosion of the global economic […]Powered by WPeMatico
Former Chinese Central Bank Governor: US Dollar Will Remain Global Reserve Currency, Says It ‘Has Great Inertia’
In remarks that appear to pour cold water on assertions that digital currencies will topple the U.S. dollar anytime soon, a former governor of the Chinese central bank, Zhou Xiaochuan, insisted the greenback will remain in its position as the global reserve currency. Xiaochuan said the dollar still “has great inertia.” Process to Change Role […]Powered by WPeMatico
Vaneck Report Calculates Bitcoin Price Could Tap $4.8M if BTC Becomes the Global Reserve Currency
On Thursday, the investment firm Vaneck published a blog post that calculates how much gold or bitcoin would be worth if the two assets became global reserve assets. Vaneck’s report explained that the investment team “attempted to quantify the emergence of new gold or bitcoin-backed currency regimes.” The study’s calculations estimate that gold could reach […]Powered by WPeMatico
VanEck says Bitcoin could hit $4.8M if it became the global reserve asset
The investment firm made very high valuation for BTC and gold based on the extreme case that either becomes the reserve global currency.
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The US Dollar’s Share of Global Reserve Currencies Drops as Japanese Yen’s Share Increases
The U.S. dollar’s dominant position as the reserve currency of choice may be in peril, as its share of global currencies held in reserves continues to decline. International Monetary Fund (IMF) data shows, the dollar’s share of reserves dropped from 66% in Q3 of 2014 to just above 60% in Q3 of 2020. This means […]
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