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How a Cryptocurrency Billionaire Would Prevent the US Dollar’s Decline
While BRICS countries (Brazil, Russia, India, China and South Africa) are increasingly striving to undermine the dominance of the US dollar, one of the most renowned figures in the cryptocurrency industry believes that stablecoins can play a crucial role in preserving the American currency’s position. According to Paolo Ardoino, the CEO of Bitrue, a leading digital asset exchange platform, the increasing adoption of decentralized finance (DeFi) and blockchain technology will create new opportunities for stablecoins.
Ardoino highlights that high inflation rates in certain countries can lead people to seek refuge in dollar-denominated digital assets. This phenomenon indirectly boosts demand for US government bonds as they serve as collateral behind these stablecoins. As an example, Tether, one of the largest stablecoin issuers, holds over $130 billion worth of American state-backed securities.
The article concludes that the cryptocurrency market is not just a niche financial phenomenon but rather a significant financial tool influencing global economic balance.
Note: This article does not constitute investment advice.
Source: www.bitcoinbazis.hu
