Harvard Professor Declares: US Dollar Will Maintain Its Dominance

Harvard heavyweight drops truth bomb: dollar's reign isn't ending anytime soon.

Why Traditional Finance Still Rules

The Ivy League expert argues that despite crypto's explosive growth, the greenback's infrastructure and global adoption create moats even DeFi can't breach—yet. He points to institutional inertia and regulatory frameworks as key advantages fiat maintains over digital upstarts.

The Cynical Take

Wall Street's old guard will love this—nothing gets bankers more excited than defending a system where they take a cut on every transaction. Meanwhile, crypto keeps building the future whether they're watching or not.

Bottom line: currencies don't get dethroned overnight, but disruption never sleeps.

Harvard Professor & Former IMF Economist Opines About the US Dollar’s Future Prospects

Gita Gopinath, who served as the Chief Economist and Deputy Managing Director at the IMF from 2019 to 2022, rejoined Harvard as a professor in economics and opined that the US dollar’s supremacy will remain intact despite internal and external pressure.she said. The professor explained that although local currencies are seeing an increase in trade, they are barely showing up in the forex markets.

Developing countries, many with advanced and bigger economies, are barely seeing their currencies used in reserves, trade, or finance. Instead, the Harvard professor said that the US dollar dominates the board and shapes global policies. She also stressed that the greenback can absorb market shocks while local currencies fail. The USD has faced the whiplash of the currency market for decades and still stands strong.

Other local currencies will not be able to sustain this level of smack, which the market throws at regular intervals. Also, the acceptance of local currencies among emerging economies is not equal. While Russia accepts the Chinese yuan, China rejects the Indian rupee. In conclusion, the US dollar will remain king for many more years despite the odds, according to the Harvard professor.