David Duong: The dollar's status is shaken, which may bring an additional $1.2 trillion to Bitcoin's market value

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Wu Blockchain
3 days ago
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Coinbase's Head of Institutional Research David Duong tweeted that the intensification of global trade protectionism and the worsening of the U.S. twin deficits are undermining the U.S. dollar's status as a reserve currency. Assets like Bitcoin and gold as stores of value are gaining attention, with Bitcoin, as a sovereign-neutral asset, expected to become a supranational unit of account. David Duong believes that the decline in dollar demand may ultimately lead more countries to diversify their international reserves, and according to conservative estimates, this trend could bring an increase of up to $1.2 trillion to Bitcoin's market capitalization.


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