HOW IS BITCOIN GOING TO FARE DURING A TIME OF DE-DOLLARIZATION
The big question is why do people say that de-dollarization is here? I want to be clear the dollar is still the indispensable Reserve currency of the world. The question that we have to ask is, For how much longer is that going to be true? Because today it is true the dollar is the King baby. In five years, things are going to change and start looking different. So far in 2023, we've had a lot of interesting news stories. China for example is now settling more trade internationally in the Chinese Yuan than in the US dollar. Countries all over the world from Brazil to Argentina to Pakistan, the UAE to Russia, and more are getting on the Yuan train.
China's economy is set to overtake the USA as soon as 2028. The BRICS group that's Brazil, Russia, India, China, and South Africa is even discussing launching their own currency as a currency used as a settlement currency for trade Block members. We have 19 more countries looking to join the BRICS group including the world's biggest oil, food, and Manufacturing producers. I think it would be Folly to Simply dismiss the idea of dedolarization outright or some kind of conspiracy. The only thing that gives really any Fiat money its value is the belief in its value and that is being questioned right now by the International Community. The USA is 32 trillion dollars in debt, that's a debt that only gets worse. In fact, the debt is so bad that now the interest payments are the number one line item on the U.S. budget. The currency is being debased at an incredible rate right now. Another eight trillion dollars could be treated just for the banking crisis alone. Now add in that the dollar of course has been used as a weapon too many times against too many countries in the world and they're starting to get a bit tired of it.
People are curious to know how is Bitcoin going to fare during a time of depolarization, it's yet to be determined. We hope of course going to do well in many ways, this is what Bitcoin was made for. I see Bitcoin adoption growing, we're seeing the number of users go up, we're seeing their never use cases go up, we're seeing the number of serious players paying attention to Bitcoin going up, we're seeing more and more people getting involved in Bitcoin. Bitcoin's volatile but it's also highly liquid. It's highly portable it can be moved anywhere on Earth in minutes with no restrictions. It is the ultimate Plan B currency to be holding, it is a Swiss bank in my pocket, and it's not owned by or controlled by any nation-state. So in a time when one nation-state currency is in trouble and others Rising, I'm going to trust math and the internet nerds. The US dollar it's losing its Reserve status and if it goes further down things get messy with 32 trillion dollars in debt. Interest payments on that debt are becoming America's number one line, item on the budget meaning that you know education schools roads all that kind of stuff are not so important because you got to pay the debt, not the principal just the interest on the debt.