Jefferies chief strategist Chris Wood said that the potential collapse of the U.S. dollar paper currency standard could benefit the country's Bitcoin holders, according to Foresight News. He pointed out that some macroeconomic issues, such as aggressive monetary policy and rising debt levels, are posing increasing risks to the U.S. dollar's long-term dominance as the world's main reserve currency, which could lead to more individuals adopting Bitcoin as a hedge fund.
Bitcoin is allocated because of its potential. Given the growing evidence of the G7 currency debasement strategy over the past two decades, crypto assets offer a good alternative for risk-averse capital seeking a store of value. He also said that if this unconventional monetary policy is not removed in a responsible manner, the current US dollar paper currency standard is expected to collapse.
