Money is a social technology that allows us to exchange goods and services, measure the value of things, and save for the future. However, not all types of money are the same. Some have more power than others, and this is reflected in their ability to influence the price of other assets, like Bitcoin.
In this article, I will reflect on the relationship between the dollar and Bitcoin, and how investor sentiment affects its value. My opinion is that the dollar is a dominant unit of account that imposes its logic on us, but it also has its weaknesses and risks. On the other hand, Bitcoin is an alternative that challenges the dollar, but it also depends on it and on market confidence.
