Rich Investors Ditch Dollar—Flood Into Gold & Crypto (UBS Data)

Wall Street’s golden geese are voting with their wallets—UBS reports high-net-worth clients are dumping USD assets at a record pace. The replacements? Bitcoin and bullion.

Why the shift? Inflation hedges beat Treasury bills when the Fed’s money printer stays jammed on ’brrr.’ Bonus points for crypto’s 24/7 trading—because billionaires hate banker’s hours.

One cynical take: Nothing unites the wealthy like distrusting the same fiat system that made them rich.

She said that investors have started to diversify their assets, changing their portfolios from what was initially a “quite US-centric” array of investment tools. Additionally, Lo also noted investors have also come to invest in the Chinese yuan and other yuan-backed assets to avoid the dollar’s dominance.

Recent data indicates that the Chinese yuan has been outperforming the U.S. dollar in early to mid‑May 2025.

According to Reuters, the yuan reached a six‑month high of 7.2169 per dollar on May 6, and by May 13 had firmed further to about 7.201 per dollar. During the same period, the U.S. Dollar Index slipped from its recent peak NEAR 101.79 to around 100.63 by May 14, reflecting a 0.37% drop on the day.

On the other hand, bitcoin (BTC) recently crossed over the $105,000 threshold after the U.S. and China agreed on a 90-day pause on high trade tariffs, decreasing them drastically. Meanwhile, gold hit a new all-time high at $3,390 last April amidst geopolitical tensions.