Nations To Dump US Dollar; New Global Currency System Ahead Amidst Bitcoin Rise

It’s been just revealed the fact that more nations are planning to dump the US dollar, and there is a new currency system in the works. All this is happening amidst the meteoric rise of Bitcoin these days. Check out the latest reports about this below.

It’s been just revealed that fact that the strategic rivals of the US are going to move away from the dollar and create a “bipolar” global reserve currency system, according to the economist and NYU professor Nouriel Roubini.

In a series of new interviews, Roubini says there’s no doubt that China, Russia, and its allies want to create an alternative monetary system that does not utilize USD.

“Unfortunately, the cold war between the US and China is getting colder by the day…”

He continued and said this:

“It’s clear that the strategic rivals of the United States – China, Russia, Iran or Korea, Pakistan and their own friends and allies – want to build an alternative economic monetary and global reserve currency system because they’re concerned about the sanctions that the US, Europe and others can impose.”

He also stated the following:

“Chinese has $1 trillion dollars of reserves. And therefore, they’re going to move in the direction of proposing the RMB as being an alternative to the US dollar and gradually we’re going to go from a unipolar to a bipolar global reserve currency system.”

Accoridng to the latest reports, the popular crypto strategist Benjamin Cowen says that Bitcoin (BTC) is acting as a leading indicator for the rest of the crypto market as its dominance level inches up.

He rec gently said that the prices of altcoins fluctuate depending on the movement of Bitcoin.

“We’ve seen it play out time and time again where Bitcoin/US dollar [pair] rallies for a while, the rest of the market can rally a little bit beyond it. But if Bitcoin starts to go back the other direction, it’s going to pull everything back down with it.”