{"id":419260,"date":"2020-03-26T19:00:00","date_gmt":"2020-03-26T19:00:00","guid":{"rendered":"https:\/\/ktsl888.com\/?p=419260"},"modified":"2020-03-26T16:07:54","modified_gmt":"2020-03-26T16:07:54","slug":"will-bitcoin-dethrone-the-dollar-as-global-reserve-currency","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/will-bitcoin-dethrone-the-dollar-as-global-reserve-currency\/","title":{"rendered":"Will Bitcoin Dethrone The Dollar As Global Reserve Currency?"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">For more than the last 100 years, the US dollar has reigned supreme over the rest of the world as the global reserve currency. But w<\/span><span class=\"s1\">ith the economy in shambles, and hyperinflation inbound for the US dollar, will <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> unseat the dollar as the global reserve currency that rules for the next one hundred years?<\/span><\/p>\n<h2>Recapping the History of Global Reserve Currencies<\/h2>\n<p class=\"p1\"><span class=\"s1\">Throughout history, every one hundred years or so, the dominant financial superpower changes hands, and so does what the world relies on as the main global reserve currency.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Following World War II, the <a href=\"https:\/\/en.wikipedia.org\/wiki\/Bretton_Woods_system\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Bretton Woods agreement<\/a> placed the United States dollar as its central anchor, putting it in favor as the global reserve currency across the world.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2020\/03\/17\/will-bitcoins-true-value-proposition-shine-during-end-of-times-scenario\/\">Will Bitcoin\u2019s True Value Proposition Shine During End of Times Scenario?\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Before the dollar, the British pound sterling served as the global currency during the 19th century. Prior to that, it was the French franc, and before it, the Dutch gilder dominated the 18th century due to the Dutch East India company\u2019s monopoly over global trade.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">But the world has since changed dramatically, and much of the global commerce and trade is conducted digitally. The digital age is causing fiat currencies to show signs of aging, and signals that a new currency is necessary to keep pace with the change in technology.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Reserve currency status usually lasts about 100 years. The petrodollar certainly had a good ride last 100 years. At some point people just stop accepting them for goods (like oil, gold, food, houses etc). <a href=\"https:\/\/t.co\/SLKWPeQ2RH\" rel=\"nofollow\">pic.twitter.com\/SLKWPeQ2RH<\/a><\/p>\n<p>&mdash; PlanB (@100trillionUSD) <a href=\"https:\/\/twitter.com\/100trillionUSD\/status\/43047938?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 26, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Can Bitcoin Unseat the United States Dollar As the World&#8217;s Reverse Currency?<\/h2>\n<p class=\"p1\"><span class=\"s1\"><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> is a digital-only currency, and the world\u2019s first decentralized cryptocurrency existing and operating without a third-party\u2019s control or intervention, giving it a unique benefit that current national currencies cannot: a separation of money from state.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Nations across the globe are all <a href=\"https:\/\/ktsl888.com\/2019\/09\/12\/heres-why-china-is-pushing-a-central-bank-digital-currency-not-crypto\/\">scrambling to create native digital currencies of their own<\/a> to merge the advantages of cryptocurrencies like Bitcoin with their own dominant fiat currency.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">China has reportedly completed the creation of a digital currency recently, and <a href=\"https:\/\/ktsl888.com\/2020\/03\/23\/big-for-bitcoin-house-democrats-propose-digital-dollar\/\">the mention of a digital dollar<\/a> began appearing in a recent economic stimulus bill.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In today\u2019s climate of global conflict and the<a href=\"https:\/\/www.bbc.com\/news\/business-45899310\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"> ongoing power struggle between the United States and China<\/a>, the next global reserve currency would ideally not have any connection with a specific nation.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Bitcoin was created during the last economic recession as a means to prevent future issues from recurring and featured many attributes that make it more favorable over any digital currencies issued by countries like China or the US.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Being decentralized and outside of any nation\u2019s control males the asset particularly valuable, and smaller countries could favor Bitcoin rather than submitting to a global superpower\u2019s native currency as its reserve.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2020\/03\/18\/economist-government-overspending-bitcoin\/\">Economist: Government Overspending Amidst Crisis is Bullish for Bitcoin\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\"><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> is hard-capped so only 21 million can ever exist, while digital currencies could be created at whim, much like the printing press-driven paper currencies dominating the world today.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In the <a href=\"https:\/\/ktsl888.com\/2020\/03\/18\/economist-government-overspending-bitcoin\/\">coming age of hyperinflation<\/a> due to the economy falling into a full death spiral, Bitcoin\u2019s scarcity could help it reach astronomical values. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">And with additional benefits that could help it thrive in today\u2019s strange new world, such as <a href=\"https:\/\/ktsl888.com\/2020\/03\/05\/coronavirus-buy-bitcoin-cash-dirty\/\">being contactless and impervious to the coronavirus<\/a>, it may not be long until we find out if Bitcoin can unseat the dollar and become the global reserve currency.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>For more than the last 100 years, the US dollar has reigned supreme over the rest of the world as the global reserve currency. But with the economy in shambles, and hyperinflation inbound for the US dollar, will Bitcoin unseat the dollar as the global reserve currency that rules for the next one hundred years? Recapping the History of Global Reserve Currencies Throughout history, every one hundred years or so, the dominant financial superpower changes hands, and so does what the world relies on as the main global reserve currency. Following World War II, the Bretton Woods agreement placed the United States dollar as its central anchor, putting it in favor as the global reserve currency across the world. Related Reading | Will Bitcoin\u2019s True Value Proposition Shine During End of Times Scenario?\u00a0 Before the dollar, the British pound sterling served as the global currency during the 19th century. Prior to that, it was the French franc, and before it, the Dutch gilder dominated the 18th century due to the Dutch East India company\u2019s monopoly over global trade. But the world has since changed dramatically, and much of the global commerce and trade is conducted digitally. The digital age is causing fiat currencies to show signs of aging, and signals that a new currency is necessary to keep pace with the change in technology. Reserve currency status usually lasts about 100 years. The petrodollar certainly had a good ride last 100 years. At some point people just stop accepting them for goods (like oil, gold, food, houses etc). pic.twitter.com\/SLKWPeQ2RH &mdash; PlanB (@100trillionUSD) March 26, 2020 Can Bitcoin Unseat the United States Dollar As the World&#8217;s Reverse Currency? Bitcoin is a digital-only currency, and the world\u2019s first decentralized cryptocurrency existing and operating without a third-party\u2019s control or intervention, giving it a unique benefit that current national currencies cannot: a separation of money from state. Nations across the globe are all scrambling to create native digital currencies of their own to merge the advantages of cryptocurrencies like Bitcoin with their own dominant fiat currency. China has reportedly completed the creation of a digital currency recently, and the mention of a digital dollar began appearing in a recent economic stimulus bill. In today\u2019s climate of global conflict and the ongoing power struggle between the United States and China, the next global reserve currency would ideally not have any connection with a specific nation. Bitcoin was created during the last economic recession as a means to prevent future issues from recurring and featured many attributes that make it more favorable over any digital currencies issued by countries like China or the US. Being decentralized and outside of any nation\u2019s control males the asset particularly valuable, and smaller countries could favor Bitcoin rather than submitting to a global superpower\u2019s native currency as its reserve. Related Reading | Economist: Government Overspending Amidst Crisis is Bullish for Bitcoin\u00a0 Bitcoin is hard-capped so only 21 million can ever exist, while digital currencies could be created at whim, much like the printing press-driven paper currencies dominating the world today. In the coming age of hyperinflation due to the economy falling into a full death spiral, Bitcoin\u2019s scarcity could help it reach astronomical values. And with additional benefits that could help it thrive in today\u2019s strange new world, such as being contactless and impervious to the coronavirus, it may not be long until we find out if Bitcoin can unseat the dollar and become the global reserve currency.<\/p>\n","protected":false},"author":517,"featured_media":419262,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1144,6664,1817,74885,4324],"class_list":["post-419260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-btcusd","tag-crypto","tag-dollar","tag-united-states-dollar","tag-usd"],"acf":[],"yoast_head":"\n<title>Will Bitcoin Dethrone The Dollar As Global Reserve Currency?<\/title>\n<meta name=\"description\" content=\"For more than the last 100 years, the US dollar has reigned supreme over the rest of the world as the global reserve currency. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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