Bitcoin Booms as US Economy Sinks: De-Dollarisation, CBDCs and More

1. Mai 2023 Aus Von admin

• The US economy is sinking towards recession as GDP came in at only 1.1% for Q1. Bitcoin on the other hand is continuing its rise.
• De-dollarisation is happening, with countries such as Russia and Saudi Arabia considering accepting yuan and rupees for trade.
• Despite this, the dollar accounts for 58% of all central bank foreign exchange reserves and this will probably not change any time soon. Central Bank Digital Currencies (CBDCs) may be the last throw of the dice for those wishing to maintain complete control.

The US Economy

The US economy is sinking towards recession as GDP came in at only 1.1% for Q1, while Bitcoin continues its rise. The most important factor for economic well being is oil and despite OPEC countries reducing their output, the price of oil is continuing to decrease as demand falters due to falling economic growth.


Other countries around the world are starting to move away from the dollar, potentially due to its recent weaponisation by the US government through sanctions against other countries it does not agree with. Russia is using yuan for trade, Argentina will pay for Chinese imports in yuan, India is settling some trades in rupees and Brazil and China are deciding whether or not to use the dollar in trades between them. Saudi Arabia may also accept yuan for oil exports to China but de-dollarisation will likely be a slow process given that dollar exchange reserves are nearly twice those of other fiat currencies combined.

Dollar Still In Control

Despite these factors, the dollar has been described as „the least dirty shirt in the laundry“ and accounts for 58% of all central bank foreign exchange reserves which will probably not change any time soon. The Brics nations – Brazil, Russia, India, China and South Africa – are said to be developing a new reserve currency backed by real substance such as commodities but this could take some time before coming into effect .

The Evil Of CBDCs

Fiat currencies all go to zero over time and this has been proved throughout history leading central banks contemplating imposing Central Bank Digital Currencies (CBDCs). This would enable them to maintain complete control over money supply however this could lead users losing privacy over their own finances amongst other issues that arise when having a digital currency controlled by a centralized body rather than decentralized one like Bitcoin .


In conclusion while de-dollarization seems like an inevitability given current events there doesn’t seem an immediate threat which means we can enjoy Dollar’s reign while it lasts but with CBDC’s looming we must be on guard against loss of financial privacy should they be imposed alongside further threats posed by centralized digital currencies