According to Foresight News, Chris Wood, the Chief Strategist at Jefferies, has suggested that the potential collapse of the dollar-based system could benefit Bitcoin holders in the United States. He pointed out that some macroeconomic issues, such as aggressive monetary policies and rising debt levels, are posing increasing risks to the long-term dominant position of the dollar as the world's main reserve currency. This could lead to more individuals adopting Bitcoin as a hedge fund.
Bitcoin is being allocated because of its potential. With increasing evidence of the currency devaluation strategy of the Group of Seven (G7) over the past two decades, cryptocurrencies provide a good alternative for risk-averse capital seeking value storage. Furthermore, Wood stated that if the unconventional monetary policy is not responsibly phased out, the current dollar-based system is expected to collapse.
