US Dollar Supremacy Still Here – 187 Countries Don’t Want Their Own Currency

It seems that no matter the struggle, the US dollar might be here to stay. Check out the latest optimistic pre[prts about this below.

Billionaire Chamath Palihapitiya believes the US dollar’s supremacy remains unquestionable despite recent headlines featuring the trend of de-dollarization.

In a new episode of the All-In Podcast, Palihapitiya made sure to explain the fact that the devaluation of the dollar is not all bad news for the United States.

According to the billionaire venture capitalist, a weaker dollar actually boosts the country’s economy as it allows other nations to purchase US products at a discount.

“The position of the US dollar hasn’t changed. Again, you have to remember a lot of these foreign governments, 187 or whatever the number is of countries outside the United States, rely on the US dollar. They don’t want to own their own currency.”

The notes reported the following:

“Dollars do get inflated, but that increased purchasing power also actually drives the balance of power back to the United States because all of these folks all of a sudden find the ability to import a little bit cheaper, their economies get slightly better but the US dollar actually still does well.

So there’s a complex set of interactions that are all relative.” Make sure to check out the original article posted by the Daily Hodl in order to learn more details about this. 

In other recent news, it seems that the whole crisis involved by the US dollar could mean something great for Bitcoin.

MicroStrategy founder and executive chairman Michael Saylor believes that the banking crisis is great for Bitcoin (BTC).

Saylor says in a new interview on the David Lin Report that the flagship crypto asset is attracting “smart money” amid a currency and banking crisis.

“The meltdown in banks and the meltdown of currencies is driving a stampede of smart money to Bitcoin.”