Foreign media: behind the bitcoin craze, or the sign that the US dollar is out of favor!

In 2016, bitcoin was $800. In 2021, bitcoin runs to $48000. Foreign media believe that the crazy bitcoin, so wayward, reminds people of the 1920 German hyperinflation, which led to the flow of funds to gold as a safe haven. As we all know, in the first World War, the claims of the victorious countries far exceeded Germany’s ability to pay. Germany had to print a lot of money to cope with it. The German mark devalued by 1 trillion times in just 11 months. It was this phenomenon that kept Germany in crisis at that time, thus dragging the world to another war. The hegemony of the US dollar has been criticized in recent years. The people of the world who have been cut off leeks just dare not to speak. The United States now owes far more than its GDP. In addition, the U.S. economy collapsed because of the epidemic. Almost every large-scale expenditure was solved by printing money, but the world eventually paid for it. For the world outside the United States, even if the dollar is fragrant, it is poisonous. No one can really love it. “Abandoning the US dollar” has become a global tacit idea. It is impossible for us profit seeking capitalists not to know, so it is justifiable to strive for bitcoin. Musk, of course, is a smart guy. He may have seen the world in the next 10 years or more when he joined bitcoin. Digital currency is the hope of the future world. Bitcoin is the ancestor of digital currency, just as gold is the ancestor of paper money. Behind the craziness of bitcoin, some people can see the taste of its gold function. Digital currency will become an irreversible trend in the future. Many international financial experts believe that digital currency is likely to be the terminator of US dollar hegemony. If the world’s major economies outside the United States will issue sovereign digital currencies in the future and trade by bypassing the dollar trading system, the US dollar may eventually become a reference for exchange rate pricing. Although bitcoin is still a ghost, the craziness of bitcoin may be a sign that the dollar is out of favor!

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