The Dollar’s Worst Nightmare: BRICS, Euro, and Bitcoin Form Unholy Alliance Against USD Dominance
The greenback’s reign faces its most coordinated assault yet—and this time, the weapons are digital.
BRICS nations are quietly building a gold-backed payment system. The Eurozone’s pushing for trade settlements in EUR. And Bitcoin? It’s doing what it does best: cutting out middlemen while Wall Street scrambles to regulate it.
Meanwhile, the Fed keeps printing—because nothing says ’stable reserve currency’ like inflation hitting your 401(k) like a sledgehammer.
Source: CNN
Euro, Bitcoin, & BRICS: Can the US Dollar Withstand All Three
US Vice President JD Vanec recently said that the country believes that Bitcoin doesn’t compete with the US dollar. That reality was challenged by Standard Chartered Bank, as they project that the leading cryptocurrency is set to get a boost as the global reserve asset struggles.
That has only reinforced the concerning reality for the Western currency that has dominated global finance for so long. Now, amid recent action from the BRICS bloc, the pushing of the euro and Bitcoin, US dollar opposition has never been as great as it is right now.
In a recent report, European Central Bank President Christine Lagarde is seeking to use the euro to challenge the greenback’s position. Specifically, she projects a shifting geopolitical landscape to benefit the European asset. That may very well create an opportunity for the “euro to play a greater international role.
That coincides with continued BRICS action to de-dollarize its ranks. For several years they have sought to boost trade in local currencies. That has continued in a year filled with increased tariffs and protectionist US policies.
Perhaps the most interesting one is Bitcoin. The United States has been a clear catalyst in pushing the asset’s worth. It was a major player in propelling it to an all-time high this year. However, that could be to the detriment of its own currency. As the digital asset grows, so too does its attractiveness against a dollar falling consistently.
