Saudi Arabia just ended the petrodollar agreement: What's next for the dollar, Bitcoin, and gold?
If big oil producers like Saudi Arabia start using other currencies for oil sales, the US dollar might lose its top spot as the global reserve currency, which could make the dollar less valuable.
Some think Bitcoin could come out on top if the petrodollar system weakens. But Bitcoin’s price is too unpredictable for big oil transactions right now.
When the economy is uncertain, gold is a popular choice for investors. If the petrodollar system gets shaken up, demand for gold could rise, pushing its price up.
