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If you think about it, US dollars are like the perfect combination of gold and bitcoin.
Like gold, they represent a universally recognized standard of value.
And like bitcoin, they can be transferred digitally without any supply chain risk.
Like gold, they represent a universally recognized standard of value.
And like bitcoin, they can be transferred digitally without any supply chain risk.
Furthermore, under our existing system you can convert digital dollars into a bearer asset (physical cash dollars) at a 1-1 ratio, allowing for privacy protection while doing transactions.
Anyway! Not hard to see why USD has become an increasingly popular monetary instrument over the years.
Of course that’s all old news. In Monday’s newsletter I’ll write about how this crisis could mark the early beginning of the end of the US dollar standard. Sign up here to get it in your inbox http://link.mail.bloombergbusiness.com/join/4wm/markets-signup&hash=b9b2681361bede0e1069ca238efb1ec2
